Energy Futures Fall
MARKETSCOPE: November WTI crude oil futures were off $1.10 Wednesday to $62.10 as the Dept. of Energy inventory report showed crude oil stocks rose 5.6 million barrels in the week ended Oct. 14, much higher than the 1-3 million barrels expected.
November heating oil futures were off 2.67 cents to 190.75 cents as the DOE report showed stocks fell 1.9 million barrels, about in line with expectations. November gasoline was off 6.52 cents to 167.00 cents as DOE report showed inventories rose 2.9 million barrels when experts anticipated a 1-2 million barrels decline.
Some selling was also sparked by reports Hurricane Wilma would not approach Gulf of Mexico oil rigs but would head for Florida over the weekend.