Oil Falls to 3-Week Low After U.S. Gasoline Stockpiles Increase

Crude oil futures fell to a three-week low after a report showed U.S. gasoline supplies unexpectedly jumped last week and forecasts of mild weather eased concerns that winter heating supplies would fall short of demand.

Gasoline inventories rose for the 10th week in 11, and on Jan. 28 were 5 percent higher than a year earlier, according to a U.S. Energy Department report yesterday. Temperatures in the northeast and much of the central U.S. will be above normal in the first half of February, the National Weather Service said.

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