Oil futures fell back below $50 a barrel Thursday after the U.S. Energy Information Administration reported that domestic crude supplies rose by 4.9 million barrels in the week ended Oct. 7. A 250,000-barrel climb was expected by analysts polled by S&P Global Platts, while the American Petroleum Institute late Wednesday reported a rise of 2.7 million barrels. The EIA had reported surprise supply declines in each of the previous five weeks. Gasoline supplies, meanwhile, fell by 1.9 million barrels, while distillate stockpiles dropped by 3.7 million barrels, according to the EIA. November crude lost 72 cents, or 1.4%, to $49.46 a barrel on the New York Mercantile Exchange. Prices traded at $50.20 before the data.
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