Crude Oil Climbs After Report Shows U.S. Fuel Stockpile Decline
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Crude oil rose to a two-week high after a U.S. Energy Department report showed that gasoline stockpiles tumbled to the lowest level since August 2009.
Futures climbed 0.5 percent after the department said gasoline inventories fell 2.51 million barrels to 205.6 million last week. Supplies of distillate fuel, a category that includes heating oil and diesel, declined 1.81 million barrels to 146.5 million. Prices briefly dropped on a 6.16 million-barrel gain in crude oil stockpiles and surging imports.