From Dow Jones & Company, Inc.:

U.S. crude oil inventories dropped more than expected last week, but gasoline and distillate fuel stocks rose, signaling weak demand for products. Data from the U.S. Energy Information Administration showed a 5.5 million barrel decrease in commercial crude-oil stocks, bringing the total to 431.1 million barrels. This is 2% below the five-year average for this time of year. Analysts had predicted a smaller decrease of 2.7 million barrels. The report suggests a mixed outlook for the energy market, with falling crude oil stocks offset by rising gasoline and distillate fuel inventories.



Read more: U.S. Crude Oil Stocks Fell 5.5 Million Barrels in Week Ended Dec. 29