Energy Information Administration released its report on Thursday, according to which crude oil inventories gained 2.2 million barrels for the week ending December 30^th, 2011. Analysts polled by Platts hoped for a decline of 450,000 barrels in crude oil inventories while a trade group forecasted the decrease of 4.4 million barrels.

EIA also reported the increase of 2.5 million barrels in gasoline supplies while analysts by Platts expected the rise of 1.5 million barrels. Distillates supplies which include heating oil and diesel gained 3.2 million barrels while analysts hoped for an increase of 500,000 barrels for the week.

Energy Information Administration also released the inventories data of natural gas which showed decrease of 76 billion cubic feet for the week as compared to analysts’ expected decline of 77 to 81 billion cubic feet.

In reaction to inventories data crude oil futures contract for February delivery declined 1.4 percent or $1.41 to settle at $101.81 per barrel on the New York Mercantile Exchange. Moreover stronger greenback also exerted pressure on commodities as its makes commodities expensive for investor of other currencies.

Gasoline futures for February delivery also fell 1.8 percent or $0.05 to$2.74 per gallon while heating oil futures for the same month delivery declined 1.7 percent or $3.04 per gallon. Natural gas futures for February delivery fell 3.8 percent or $0.12 to settle at $2.98 per million British thermal units.