US crude reserves down, gasoline up
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US stockpiles of crude oil fell over the past week but supplies of gasoline and refined products were higher, the Department of Energy said.
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Crude oil prices fell Tuesday astraders widely anticipated a continuing increase in US inventories of crude oil. On the New York Mercantile Exchange, crude oil futures for
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LONDON  - Oil prices see-sawed, failing to sustain a brief rally on news of a surprise fall in US distillate stockpiles, including heating fuel, and an unexpectedly small increase in crude inventories.
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Crude oil in New York fell from a one-month high after the White House said the US may loan oil to refineries from the Strategic Petroleum Reserve to make up for supply disruptions caused by Hurricane Ivan.
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Crude oil futures fell in London, ending the week 7.7 percent lower after a report two days ago showed an unexpected gain in US inventories of distillate fuels such as heating oil.
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Oil prices ticked lower on Thursday  for the third day in a row as rising U.S. gasoline supplies  countered a surprise drop in crude inventories in the world's  largest energy consumer.
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Oil prices fell yesterday after government data showed US inventories of crude grew last week, surprising many traders and analysts who had expected supplies to shrink due to lingering output problems caused by Hurricane Ivan.
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Oil futures prices sank nearly 5 percent yesterday, dropping below $53 a barrel, as concerns about tight winter-fuel supplies eased, at least temporarily, and traders turned their attention to rising US inventories of crude.
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Oil fell 2 percent on Wednesday as U.S. gasoline stocks rose and crude inventories hit a nine-year high, easing supply concerns in the world's top consumer.
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Oil prices fell further below $50 on Wednesday as a fresh rise in US crude oil inventories outweighed the impact of President Bush&#39;s victory in the US election.
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US refineries cranked out higher levels of heating oil and gasoline last week, which contributed to an early downturn on the futures market Wednesday.
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Oil prices fell yesterday after U S government data showed rising supplies of crude. Natural gas futures declined on the heels of a separate report that showed healthy domestic inventories of the home-heating fuel.
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WASHINGTON -- Oil prices fell by more than $1 a barrel yesterday after the US government released data showing healthy crude inventories and a surge in domestic fuel supplies .
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Oil prices rebounded Friday but remained below $50 US a barrel after declining four per cent over the past week due to rising US supplies of crude and natural gas.
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US gasoline prices fell about 3 cents in the past two weeks to an average of $2.01 per gallon as worldwide supplies of crude oil increased, an industry analyst said yesterday.
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U.S. proven crude oil reserves fell  last year for the first time in five years, as energy companies  replaced just over half the oil they took out of the ground,  the U.S. government said on Wednesday.
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The average US retail price of gasoline fell 2.67 cents in the past two weeks, its first decline since early September due to increased crude oil production, a leading industry analyst said on Sunday.