MW; Crude extends loss as data show rising inventories
By Moming Zhou
NEW YORK (MarketWatch) -- Crude futures extended their losses Wednesday after government data showed U.S. crude inventories rose last week as demand remained weak. Crude stockpiles rose 2.1 million barrels in the week ended Nov. 27, the Energy Information Administration reported. Gasoline inventories increased 4 million barrels and distillate inventories, which include heating oil and diesel, fell 1.2 million barrels. Total petroleum demand fell 2.6%, with gasoline demand down 1.6% to 8.94 million barrels a day. After the data, January crude lost 1.3% to $77.36 a barrel. It was down less than 1% before the data.
