Oil prices fell Wednesday after the Energy Department said crude oil and gasoline supplies jumped much more than expected last week. Inventories of distillates, which include heating oil and diesel, fell less than forecast.
The Energy Information Administration report injected a dose of bearish sentiment into a market that has set new records in 11 of the past 12 sessions. Crude oil supplies jumped by 6.2 million barrels last week, more than three times the 1.6 million barrel increase analysts surveyed by Dow Jones Newswires were expecting.
It was the eight increase in crude supplies in nine weeks, putting oil inventories back on a growth track after a …
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