Oil dips further after EIA inventories report (by Claudia Assis)

SAN FRANCISCO (MarketWatch) -- Crude-oil futures added to losses after an inventories report showed an increase in crude supplies in line with expectations. Oil for June delivery (clm2) declined 81 cents, or 0.8%, to $105.35 a barrel on the New York Mercantile Exchange. It traded at $105.54 a barrel earlier. The Energy Information Administration reported a rise in crude supplies by 2.8 million barrels. Analysts polled by Platts had expected a rise of 2.5 million barrels. The EIA also reported a decline in gasoline inventories by 2 million barrels, and a decline in distillates supplies by 1.9 million barrels. The Platts analysts had expected gasoline stockpiles down 1 million barrels and distillates supplies down 400,000 barrels.