Oil ends lower after rise in gasoline inventories

Oil futures ended lower on Wednesday, after a drop in domestic crude supplies was outweighed by an unexpectedly large rise in gasoline inventories. West Texas Intermediate crude for January delivery on the New York Mercantile Exchange fell $1.66, or 2.9%, to close at $55.96 a barrel. The U.S. Energy Information Administration on Wednesdy morning reported that domestic crude supplies fell 5.6 million barrels last week, exceeding a forecast for a decline of 4.1 million barrels from analysts surveyed by S&P Global Platts. But gasoline stockpiles rose 6.8 million barrels versus a forecast rise of 2.7 million barrels.

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