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Oil Erases Loss After U.S. Says Supplies Rose Less Than Expected

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March 7 (Bloomberg) -- Crude oil futures erased losses after the U.S. Energy Department said stockpiles rose 832,000 barrels last week to 345.7 million, a smaller gain than analysts forecast.

Crude oil for April delivery rose 1 cent to $104.71 a barrel at 10:31 a.m. on the New York Mercantile Exchange. Oil traded at $104.49 a barrel before release of the inventory report at 10:30 a.m.

To contact the reporter on this story: Mark Shenk in New York at mshenk1@bloomberg.net

To contact the editor responsible for this story: Dan Stets at dstets@bloomberg.net

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