The rise of gasoline inventory and distillate stocks are driving the price of crude lower in trading. Gasoline inventories increased 3.8 million barrels and distillates rose 2.2 million barrels. Crude inventories fell 3.8 million barrels last week but that was mainly due to an increase of 4.9% in refinery activity. Economic concerns also weighed on the short term price of crude which fell to $87.45 for January delivery. The northeast is expected to have a brief warm spell followed by colder than normal weather until December 21st.
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Jim Sutliff