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Oil prices fall toward a 6-week low as U.S. gasoline, distillate supplies jump

MarketWatch - Losses for oil futures worsened Wednesday after U.S. government data revealed hefty weekly increases in domestic supplies of gasoline and distillates, though crude stockpiles posted an unexpected decline.

Petroleum products, especially heating oil, “had an eye opening, much larger build than was expected,” Tariq Zahir, managing member at Tyche Capital Advisors, told MarketWatch. Also noteworthy, inventories at the U.S. trading hub of Cushing, Okla. “saw a build for the first time in several weeks.”

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