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US crude oil supplies fall by 5.6 million barrels
Gov't: US stockpiles of crude oil fell, gasoline rose in week ended Nov. 29
Associated Press
2013-12-05 03:01 AM

NEW YORK (AP) -- The United States's crude oil supplies fell last week for the first time in almost three months, the government said Wednesday.

Crude supplies decreased by 5.6 million barrels, or 1.4 percent, to 385.8 million barrels, which is 3.8 percent above year-ago levels, the Energy Department's Energy Information Administration said. It was first weekly decline reported by the government in 11 weeks.

Analysts expected a decline of 1.25 million barrels for the week ended Nov. 29, according to Platts, the energy information arm of McGraw-Hill.

Gasoline supplies increased by 1.8 million barrels, or 0.9 percent, to 212.4 million barrels. That's 0.1 percent more than year-ago levels. Analysts expected gasoline supplies to rise by 2 million barrels.

Demand for gasoline over the four weeks ended Nov. 29 was up 3.3 percent from a year ago, averaging 8.9 million barrels a day.

U.S. refineries ran at 92.4 percent of total capacity on average, up 3 percentage points from the prior week. Analysts expected capacity to rise to 90.4 percent.

Supplies of distillate fuel, which include diesel and heating oil, rose by 2.6 million barrels to 113.5 million barrels. Analysts expected distillate stocks to fall by 1 million barrels.

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