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Adding to the caution, the Energy Department said U.S. stockpiles of oil and gasoline rose more than expected last week. Crude supplies expanded by 4.8 million barrels to 340.6 million barrels. Gasoline supplies rose by 2.4 million barrels to 230.1 million barrels, while demand in the past four weeks increased 1.1 percent. Supplies of distillate fuel, which includes diesel and heating oil, declined by 100,000 barrels to 165.7 million barrels. In other Nymex trading in February contracts, heating oil was down 0.4 cent at $2.666 a gallon and gasoline fell 0.2 cent to $2.429 a gallon. Natural gas for March delivery slipped 2 cents to $4.48 per 1,000 cubic feet. In London, Brent crude was up 1 cent at $97.92 a barrel on the ICE Futures exchange.
[Associated
Press]
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