NEW YORK, Jan. 16 (Xinhua) -- Crude futures fell Wednesday after the U.S. government said oil stocks jumped unexpectedly last week.
In its weekly inventory report, the Energy Department's Energy Information Administration said crude oil stockpiles rose by 4.3 million barrels last week. Analysts had expected a decline of 300,000 barrels.
Stocks of gasoline and distillates, which include heating oil, rose last week roughly in line with expectations.
Light, sweet crude for February delivery fell 1.06 U.S. dollars to 90.84 dollars a barrel on the New York Mercantile Exchange after falling as low as 89.26 dollars. It was the first time since Dec. 19 the price of crude traded below 90 dollars.
In London, February Brent crude fell 1.23 dollars to 89.75 dollars a barrel on the ICE Futures exchange.
In its weekly inventory report, the Energy Department's Energy Information Administration said crude oil stockpiles rose by 4.3 million barrels last week. Analysts had expected a decline of 300,000 barrels.
Stocks of gasoline and distillates, which include heating oil, rose last week roughly in line with expectations.
Light, sweet crude for February delivery fell 1.06 U.S. dollars to 90.84 dollars a barrel on the New York Mercantile Exchange after falling as low as 89.26 dollars. It was the first time since Dec. 19 the price of crude traded below 90 dollars.
In London, February Brent crude fell 1.23 dollars to 89.75 dollars a barrel on the ICE Futures exchange.
