Crude Oil Increases a Third Day as U.S. Fuel Consumption Gains
This article is for subscribers only.
Oil rose a third day after an increase in consumption of distillate fuel, a category that includes heating oil and diesel, bolstered speculation that crude supplies will drop.
Demand for distillate fuels climbed 11 percent to 3.95 million barrels a day last week, the biggest gain since Dec. 11, the Energy Department reported yesterday. Inventories of the fuel advanced 321,000 barrels last week. Heating oil stockpiles fell for the first time in five weeks, the report showed.