EIA reports a 7.9 million-barrel weekly climb in U.S. crude supplies

The Energy Information Administration on Wednesday reported that U.S. commercial crude inventories rose by 7.9 million barrels for the week ended June 9. On average, analysts polled by S&P Global Commodity Insights expected stocks to be unchanged for the week. The EIA report showed weekly inventory increases of 2.1 million barrels each for gasoline and distillates. Analysts had forecast weekly climbs of 460,000 barrels for gasoline and 1 million barrels for distillates. Crude stocks at the Cushing, Okla., Nymex delivery hub climbed by 1.5 million barrels for the week, the EIA said.

…