The Energy Information Administration reported on Wednesday that U.S. crude inventories rose by 2.1 million barrels for the week ended July 16, marking the first weekly rise in nine weeks. On average, analysts polled by S&P Global Platts forecast a decline of 6.7 million barrels for crude stocks, while the American Petroleum Institute on Tuesday reported an 806,000 barrel increase, according to sources. The EIA also reported that gasoline supplies edged down by 100,000 barrels, while distillate stockpiles fell by 1.3 million barrels for the week. The S&P Global Platts survey forecast a supply decrease of 1.1 million barrels for gasoline and 600,000 barrels for distillates. The EIA data also showed crude stocks at the Cushing, Okla., storage hub declined by 1.4 million barrels for the week. September West Texas Intermediate crude
CLU21,
+3.57%

was up $2.21, or 3.3%, at $69.41 a barrel on the New York Mercantile Exchange. Futures were trading at $69.35 before the supply data.

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