Oil Extends Losses After EIA Data Show U.S. Crude Supplies Up 2.3 Mln Barrels

Oil futures fell further on Wednesday after the U.S. Energy Information Administration reported that domestic crude supplies rose by 2.3 million barrels in the week ended Aug. 26. That was above the 600,000-barrel climb expected by analysts polled by S&P Global Platts, while the American Petroleum Institute late Tuesday reported an increase of 942,000 barrels, according to sources. Gasoline supplies fell 700,000 barrels, while distillate stockpiles climbed by 1.5 million barrels, according to the EIA. October crude fell 91 cents, or 2%, from Tuesday's settlement to $45.44 a barrel on the New York Mercantile Exchange. Prices traded at $46.01 before the data.