EIA: US Crude Oil Stockpiles Dip; Gasoline Builds

U.S. crude oil stockpiles last week fell less than expected, while gasoline inventories increased and distillates stocks fell, the Energy Information Administration (EIA) said Dec. 12.

Crude inventories fell by 1.2 million barrels in the week to Dec. 7, compared with analysts’ expectations for a decrease of 3 million barrels.

The crude drawdown was also short of an over 10 million-barrel decline reported late Dec. 11 by industry group The American Petroleum Institute.