EIA reports an unexpected weekly climb in U.S. crude supplies

The Energy Information Administration on Thursday reported that U.S. commercial crude inventories rose by 4.5 million barrels for the week ended May 26. That compared to an average decline of 3.4 million barrels forecast by analysts polled by S&P Global Commodity Insights. The EIA report, which was released a day later than usual due to Monday’s Memorial Day holiday, showed a weekly inventory fall of 200,000 barrels for gasoline, while distillate supplies climbed by 1 million barrels. Analysts had forecast weekly declines of 500,000 barrels for gasoline and 280,000 for distillates. Crude stocks at the Cushing, Okla.,…