EIA reports weekly gains in U.S. crude and product supplies

The Energy Information Administration on Wednesday reported that U.S. commercial crude inventories rose by 1.6 million barrels for the week ending Nov. 24. On average, analysts polled by S&P Global Commodity Insights expected the report to show a decline of 700,000 barrels. The EIA report also revealed supply increases of 1.8 million barrels for gasoline and 5.2 million barrels for distillates. The forecast called for a gasoline supply rise of 200,000 barrels and a decline of 100,000 barrels for distillates. Crude stocks at the Cushing, Okla., Nymex delivery hub climbed by 1.8 million barrels last week, the EIA said….