Oil trims losses after EIA supplies report (by Claudia Assis)

SAN FRANCISCO (MarketWatch) -- Crude-oil futures pared losses Wednesday after a weekly government inventories report. Crude for June delivery (clm2) declined $1.05, or 1%, to $95.98 a barrel on the New York Mercantile Exchange. Prices traded around $95.37 a barrel before the data. The Energy Information Administration reported crude inventories rising 3.7 million barrels, compared to expectations of an increase of 2.2 million, according to Platts, but less drastic than the increase a trade group reported late Tuesday. The EIA also reported gasoline supplies down 2.6 million barrels, and inventories of distillates down 3.3 million barrels. The analysts polled by Platts had forecast gasoline inventories down 600,000 barrels and unchanged supplies for distillates, which include heating oil.