Sharp drop in crude reserves in the United States but jump in gasoline stocks

(Boursier.com) — Oil prices remain in the red despite the announcement of a sharp drop in black gold reserves in the United States last week. According to the US Department of Energy, domestic crude stocks, excluding strategic reserves, fell by 5.2 million barrels during the week ended December 2 to 413.9 mb. The consensus was for a drop of 3.3 mb. But gasoline stocks increased by 5.3 mb (+2.7 mb expected), and those of distilled products jumped by 6.2 million barrels (+2.2 mb consensus).