Fall in U.S. Crude Supplies for the First Time in 3 Weeks

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The U.S. Energy Information Administration reported Wednesday that crude supplies fell by 2.2 million barrels for the week ended May 4. The decline followed back-to-back weekly increases.

Analysts surveyed by S&amp.P Global Platts had forecast a decline of 400.000 barrels. while the American Petroleum Institute on Tuesday reported fall of nearly 1.9 million barrels. according to sources. Gasoline stockpiles also declined by 2.2 million barrels for the week. while distillate stockpiles dropped 3.8 million barrels. according to the EIA.

The S&amp.P Global Platts survey forecast supply declines 600.000 barrels for gasoline and 1.9 million barrels for distillates stockpiles. June crude rose $1.99. or 2.9%. to $71.05 a barrel on the New York Mercantile Exchan