Despite a government report showing U.S. distillate and gasoline stockpiles have surged last week, crude oil in New York was little changed after falling for the first time in six sessions yesterday. Crude oil for February delivery was at US$62.80 a barrel in after-hours electronic trading on the New York Mercantile Exchange.
Supplies of distillates, a category that includes heating oil and diesel, jumped 2.1 million barrels, as warmer-than-usual temperatures sapped heating demand. Gasoline inventories rose 1.4 million barrels, more than three times the gain expected.
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