Oil adds to gains after surprise supply draw *PIC*

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Oil adds to gains after surprise supply draw (by Claudia Assis)

SAN FRANCISCO (MarketWatch) -- Crude-oil futures added to gains Wednesday after a weekly government report showed a decline in inventories. Crude for May delivery (clk2) advanced 51 cents, or 0.5%, to $106.57 a barrel on the New York Mercantile Exchange. It traded at $106.37 before the report. The Energy Information Administration said crude inventories declined 1.2 million barrels in the week ended March 16. Analysts polled by Platts forecast an increase of 2.1 million barrels for the week. The EIA also reported gasoline stockpiles were down 1.2 million barrels, and distillates supplies increased 1.8 million barrels. The analysts surveyed by Platts had expected gasoline and distillates supplies to decrease 1.8 million and 1.6 million barrels, respectively.

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