EIA reports a decline in U.S. crude supplies, the first in 4 weeks

The Energy Information Administration on Wednesday reported that U.S. crude supplies fell by 1.4 million barrels for the week ended April 12. Analysts polled by S&P Global Platts expected a rise of 1.8 million barrels, following three consecutive weeks of increases. The American Petroleum Institute on Tuesday had reported a decrease of 3.1 million barrels, according to sources. The EIA data also showed inventory declines of 1.2 million barrels for gasoline and 400,000 barrels for distillates last week. The S&P Global Platts survey had shown expectations for supply declines of 2.5 million barrels for gasoline and 1.6 million barrels for distillates. May West Texas Intermediate crude CLK9, +0.22% was up 12 cents, or 0.2%, at $64.17 a barrel on the New York Mercantile Exchange, little changed from $64.15 before the supply data’s release.

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