Oil prices rise after government says heating oil supplies fell …
The weekly inventory report from the Energy Department‘s Energy Information Administration showed supplies of distillates, which include heating oil and diesel fuel, fell by 1. But the stock market‘s late recovery on Wednesday, as well as overnight rallies by stock markets in Europe and Asia, helped push energy futures higher even before the Energy Department issued its report. Energy investors often view stocks as a proxy for economic growth, fearing that a slowdown would curtail demand for oil and petroleum products such as gasoline and heating oil. Demand for gasoline fell last week by 152,000 barrels, though demand over the past four weeks _ which included the busy holiday travel period _ rose by 1. read more
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