Oil News

Gasoline inventories rose 547,000 barrels to 207.7 million last week, the department said. Crude is trading at 72.50 as of 9:43am, London Time.

Crude oil rises after stock piles come out at their lowest since January

Gasoline inventories rose 547,000 barrels to 207.7 million last week, the department said. Crude is trading at 72.50 as of 9:43am, London Time.

Oil traded near $72 a barrel in New York after the U.S. Energy Department reported that crude stockpiles in the biggest energy-consuming nation dropped to the lowest level since January. Crude oil for October delivery was at $72.55 a barrel, up 4 cents, in electronic trading on the New York Mercantile Exchange at 2:57 p.m. in Singapore. U.S. crude oil stockpiles fell to 332.8 million barrels, the Energy Department said. Stockpiles of distillate fuel climbed 2.24 million barrels to 167.8 million, the highest since January 1983. Gasoline inventories rose 547,000 barrels to 207.7 million last week, the department said. Crude is trading at 72.50 as of 9:43am, London Time.