Data from the U.S. Energy Information Administration Thursday showed that domestic crude supply fell 4.6 million barrels for the week ended Dec. 22, failing to match a 6 million barrel drawdown reported by the American Petroleum Institute late Wednesday. A survey by the Wall Street Journal showed expectations for a decline of 3.7 million barrels for the week. EIA showed that gasoline stocks increased by about 590.000 barrels on the week, while distillate products rose by 1.1 million barrels. Supplies at a key energy hub at Cushing, Okla., fell by 1.6 million barrels. February crude held on to slight declines, off 8 cents, or 0.1% at $59.55 a barrel.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News