NEW YORK, Nov. 21 (Xinhua) -- Crude prices retreated Wednesday on the latest U.S. inventory report.
The U.S. Energy Information Administration (EIA) reported that crude inventories fell by 1.1 million barrels last week.
The EIA also said refinery activity fell last week, countering expectations for a slight increase. Gasoline inventories grew less than expected, but distillate supplies fell by 2.4 million barrels, far more than expected.
Demand for gasoline rose by 35,000 barrels last week, and by 0.3 percent over the last four weeks compared with the same period last year, the EIA said.
Light, sweet crude for January delivery fell 74 cents to settle at 97.29 dollars a barrel on the New York Mercantile Exchange.
In London, December Brent crude fell 65 cents to settle at 94.84 dollars a barrel on the ICE Futures exchange.
The U.S. Energy Information Administration (EIA) reported that crude inventories fell by 1.1 million barrels last week.
The EIA also said refinery activity fell last week, countering expectations for a slight increase. Gasoline inventories grew less than expected, but distillate supplies fell by 2.4 million barrels, far more than expected.
Demand for gasoline rose by 35,000 barrels last week, and by 0.3 percent over the last four weeks compared with the same period last year, the EIA said.
Light, sweet crude for January delivery fell 74 cents to settle at 97.29 dollars a barrel on the New York Mercantile Exchange.
In London, December Brent crude fell 65 cents to settle at 94.84 dollars a barrel on the ICE Futures exchange.
