Data from the Energy Information Administration on Wednesday revealed that U.S. crude supplies rose by 2 million barrels for the week ended March 13, following seven straight weeks of increases. Analysts polled by S&P Global Platts expected the data to show a rise of 2.6 million barrels. The American Petroleum Institute on Tuesday reported a fall of 421,000 barrels, according to sources. The EIA data showed supply declines of 6.2 million barrels for gasoline and 2.9 million barrels for distillates. The S&P Global Platts survey had shown expectations for supply declines of 3.8 million barrels for gasoline and 3.2 million barrels for distillates. Oil prices continued to trade sharply lower on the back of demand worries tied to COVID-19.
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