Oil falls as EIA posts rise in crude supply (WTIC) *PIC*

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Oil falls as EIA posts rise in crude supply ( CL2G ) (by Myra P. Saefong)

SAN FRANCISCO (MarketWatch) -- Crude futures added to losses Thursday after the U.S. Energy Information Administration reported an unexpected rise of 3.9 million barrels in U.S. crude supplies for the week ended Dec. 23. Motor gasoline supplies fell 700,000 barrels, while distillate stocks increased by 1.2 million barrels in the latest week, the EIA report said. Analysts polled by Platts expected data to show that crude-oil stocks fell by 2.3 million barrels. They also forecasted a fall of 500,000 barrels in gasoline supplies and a decline of 1.2 million barrels in distillate inventories. Following the news, February crude (cl2g) fell 85 cents, or 0.9%, to $98.51 a barrel.

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