From Dow Jones & Company:

Oil futures fell as shipping disruptions in the Red Sea took a back seat to U.S. crude inventory data. West Texas Intermediate crude dropped 89 cents to $73.22 a barrel, with Brent crude down 93 cents to $78.72 a barrel. January gasoline fell 1% to $2.134 per gallon, and heating oil was off 0.6% at $2.609 a gallon. Maersk plans to send dozens of container ships through the Red Sea, despite concerns about recent missile attacks. The American Petroleum Institute reported U.S. crude inventories rose 1.8 million barrels, and official data from the Energy Information Administration is expected Thursday. Analysts anticipate a 3.5 million barrel drop in crude inventories, with gasoline supplies rising 710,000 barrels, and distillates down 50,000 barrels.



Read more: Oil prices extend pullback as Red Sea worries fade