U.S. Crude Oil Stockpiles Fall Less Than Expected

U.S. crude oil inventories fell less than expected last week, while stocks of gasoline and distillate fuels saw large builds with refineries maintaining high capacity use, according to data released Thursday by the U.S. Energy Information Administration.

- BY ANTHONY HARRUP

Commercial crude oil stocks excluding the Strategic Petroleum Reserve fell by 1.2 million barrels to 415.6 million barrels in the week ended Dec. 27 and were about 5% below the five-year average for the time of year, the EIA said.

Analysts surveyed by The Wall Street Journal had predicted crude stockpiles would fall by 2.4 million barrels.