EIA Data Show First Decline In U.S. Crude Supplies In 10 Weeks

The U.S. Energy Information Administration on Wednesday reported that domestic crude-oil supplies fell for the first time in 10 weeks. Supplies declined by 200,000 barrels for the week ended March 10. The American Petroleum Institute late Tuesday reported a 531,000-barrel decline, while analysts polled by S&P Global Platts forecast a climb of 3.5 million barrels. Gasoline supplies fell by 3.1 million barrels, while distillate stockpiles dropped 4.2 million barrels last week, according to the EIA. April crude was up 78 cents, or 1.6%, to $48.50 a barrel on the New York Mercantile Exchange. It was trading at $48.70 before the supply data.

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