Oil futures seesaw after EIA supply report (by Claudia Assis)
SAN FRANCISCO (MarketWatch) -- Crude-oil futures wavered between small gains and losses on Wednesday, after the Energy Information Administration said oil inventories rose 600,000 barrels in the week ended May 20. Analysts polled by Platts expected crude supplies to decline 1.6 million barrels in the week. The EIA also showed gasoline inventories up 3.8 million barrels, and distillate supplies decreased 2 million barrels. Analysts surveyed by Platts had seen gasoline up 750,000 barrels, and distillates stocks up 500,000 barrels. Crude for July delivery (cln11) declined 3 cents to $99.58 a barrel on the New York Mercantile Exchange.