However, gasoline stocks rose 6.8 million bbl, more than triple expectations.
Traders said prices fell after an American Petroleum Institute (API) report late on Tuesday that showed a 9.2 million barrel rise in gasoline stocks in the week ended December 1, and an increase of 4.3 million barrels in distillate inventories, which include motor diesel and heating oil.
January WTI crude oil settled at $57.62, up $0.15 or +0.26% and February Brent crude oil closed at $62.86, up $0.41 or +0.66%. MCX Crude oil futures are also down 1.56% to trade at Rs 3666 per barrel.
Crude inventories fell 5.6 million barrels (bbl) in the week to December 1, compared with analysts' expectations for a decrease of 3.4 million bbl. Inventories at Cushing probably slid by 2.4 million barrels, a separate forecast compiled by Bloomberg showed.
Despite this, some analysts said they expected refining margins to remain healthy into 2018.
US gasoline stocks rose by 6.8 million barrels and distillate inventories were up 1.7 million barrels, government data showed, both exceeding expectations in a Reuters poll.
(IEX) Announces $0.37 Quarterly Dividend
The firm has a market capitalization of $10,237.08, a price-to-earnings ratio of 32.29, a P/E/G ratio of 2.42 and a beta of 1.24. The institutional investor acquired 2,791 shares of the industrial products company's stock, valued at approximately $339,000.
Distillate inventories, too, saw a build this week, up 4.259 million barrels, against a forecast of a 548,000-barrel build.
Refiners "actually beat demand with [gasoline] production at a near record 9.758 million barrels a day, compared to daily demand of 8.895 million barrels a day last week", said Phil Flynn, senior market analyst at Price Futures Group.
US output rose in September to 9.5 million barrels per day (bpd), the highest monthly output since 2015, the EIA said last week.
"The sentiment-driven support to crude oil prices has somewhat dissipated as market participants look beyond last week's OPEC meeting", said Abhishek Kumar, senior energy analyst at Interfax Energy's Global Gas Analytics in London.
Meanwhile, one of the world's best-known oil traders, Pierre Andurand, who runs a big hedge fund specializing in black gold, Andurand Capital, says rising demand will again be a factor.
Ils préparaient un attentat contre le 10 Downing Street, la résidence londonienne de la Première ministre, selon le Daily Mirror. Puis, ils comptaient s'introduire à l'intérieur avant d'attaquer Theresa May au couteau, ont rapporté plusieurs médias .
Stunned motorists found the hillside ablaze and gridlock below as fire raced towards the homes of numerous city's rich and famous. North winds of 8 to 14 miles per hour and a relative humidity in the low 20's caused the fire to spread rapidly to the south.
Keeler, who had been living under the name of Sloane for many years, was briefly married twice; both marriages ended in divorce. In 1961 she had affairs with the Secretary of State for War Profumo and the Soviet military attache Yevgeny Ivanov.
The area is surrounded by parkland and neighborhoods, a stark contrast to the sea of asphalt the Oakland Coliseum exists in. The Athletics were looking at the 13-acre plot of land near Laney College that was close to downtown Oakland.
Finally, Penserra Capital Management LLC acquired a new stake in shares of Hormel Foods during the second quarter worth $189,000. Hormel Foods Corp (NYSE:HRL) Director Robert Nakasone sold 3,184 shares of the stock in a transaction on Monday, December 4th.
WCG Hotels is offering guests and those in the community a variety of ways to give back this holiday season. It may not be the North Pole, but the Toys for Tots warehouse in Harford County might as well be.
The bank also gave his Trump Int'l Hotel and Tower, Chicago, a loan of up to $640 million, according to a 2012 property filing. So far, the special counsel has charged four people as part of the investigation including Manafort and Flynn.
Zanzibar shocked Rwanda with a 3-1 win in the ongoing CECAFA Senior Challenge Cup at Machakos Stadium in Kenya , on Tuesday . Abed Yalew opened the scored for the four-time champions as early as the 24th minute after dominating the proceedings.
You can see them in movies or live shows, or read them in comics, but soon Marvel will be telling a new story in a brand new way. The agents team up with deputy Bobby Reid (Andrew Keenan-Bolger) to investigate their main suspect, Logan ( Richard Armitage ).
PSA élabore un tricycle hybride
Au final, il est capable de réaliser des trajets urbains en mode zéro émission à des vitesses allant jusqu'à 70 km/h. La catégorie L5e correspond aux véhicules 3 roues utilisables sur tout type de route dépassant les 50 km/h.
Le portrait est complet — Ligue des champions
Enfin, le Real Madrid a dû cravacher pour venir à bout de Dortmund (3-2) avec un nouveau record pour Ronaldo à la clé. Agüero, sorti du banc, a réduit le score sur penalty (90e+2).
Mourinho's injury update for City
Gale feels City pose too strong a threat for United to press and claims Guardiola's men could "pierce them apart". To win those games you need to give everything.
Oklahoma RB Rodney Anderson facing rape allegation
The emergency protective order was filed and issued Monday, with the woman writing "I remember feeling like I couldn't get away". Anderson's attorney, Derek Chance , released a statement in which he says his client is "shocked and disturbed" by the claims.