Oil regains strength, shrugs off inventories data *PIC*

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Oil regains strength, shrugs off inventories data (by Claudia Assis)

SAN FRANCISCO (MarketWatch) -- Crude-oil futures traded above $101 a barrel on Wednesday, rallying on the concerted effort by central banks around the world to prop up liquidity. Prices lost some luster after the weekly inventories report, but the January contract (cl2f) recently traded at $101.06, up 1.3%. The Energy Information Administration reported Wednesday crude-oil inventories rose 3.9 million barrels in the week ended Nov. 25. Analysts polled by Platts had expected an increase of 1.5 million. The EIA reported gasoline supplies up 200,000 barrels, compared to expectations of a rise around 1.5 million. Distillates inventories rose 5.5 million. Analysts had expected a decline of 1.5 million for distillates.

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