Oil under $100 after supplies rise 1.3 mln barrels (by Claudia Assis)

SAN FRANCISCO (MarketWatch) -- Oil slipped under $100 a barrel Wednesday after a weekly government inventories report showed a suprise increase in crude supplies. Oil for January delivery (cl2f) traded $1.37 lower, or 1.4%, to $99.90 a barrel on the New York Mercantile Exchange. The Energy Information Administration reported a rise in inventories of 1.3 million barrels; analysts polled by Platts had expected a decline around 1.3 million. A trade group report on Tuesday had shown a decline of 5 million barrels. The EIA also said gasoline inventories rose 5.1 million, and supplies of distillates increased 2.5 million barrels. The Platts analysts had seen gasoline inventories up 1 million barrels, and distillates up 1.5 million barrels.