EIA data show a modest rise in last week's U.S. crude supplies

The Energy Information Administration reported Wednesday that U.S. crude inventories edged up by 100,000 barrels for the week ended April 23. On average, analysts polled by S&P Global Platts forecast a decline of 200,000 barrels for crude stocks, while the American Petroleum Institute on Tuesday reported a 4.3 million-barrel rise, according to sources. The EIA data also showed crude stocks at the Cushing, Okla., storage hub climbed by 700,000 barrels for the week. The EIA reported that gasoline supply also rose by 100,000 barrels, while distillate stockpiles declined by 3.3 million barrels for the week. The S&P Global Platts survey had expected supplies of gasoline to be unchanged for the week, while distillate inventories were expected to fall by 1.2 million barrels. Oil prices extended their gains after the supply data, with June West Texas Intermediate crude CLM21, +2.05% up $1.16, or 1.8%, at $64.10 a barrel on the New York Mercantile Exchange. Prices were trading at $63.75 before the supply data.