Oil Rises Most in 8 Weeks on Concern Over Low Fuel Supplies

Crude oil rose more than 3 percent, the biggest increase in eight weeks, as a decline in U.S. heating- oil inventories spurred concern that supplies of the fuel may be inadequate for winter.
Heating-oil supplies fell 74,000 barrels to 48.4 million barrels in the week ended Nov. 5, the sixth-straight decrease, the department said. Stockpiles of distillate fuels, a category that includes heating oil and diesel, fell 137,000 barrels to 115.6 million. An increase of 400,000 barrels had been expected, according to the median forecast of 15 analysts.

Bloomberg