WTI Oil Falls to Six-Week Low on Products Supply Gain
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West Texas Intermediate crude fell to the lowest level in six weeks after a government report showed bigger-than-expected gains in gasoline and distillate supplies as demand dropped.
Prices slid for the sixth time in seven days. Inventories of gasoline and distillates, including diesel fuel and heating oil, climbed more than twice as much as analysts predicted in the week ended Jan. 3. Total products supplied, a measure of consumption, tumbled 4.1 percent to the least in seven months, the Energy Information Administration reported.