Crude Oil, Gasoline, Rise as Supplies of the Motor Fuel Decline
April 29 (Bloomberg) — Crude oil and gasoline rose after a government report showed an unexpected drop in U.S. inventories of the motor fuel as refiners reduced operating rates.
Gasoline supplies declined 4.7 million barrels to 212.6 million last week, the biggest reduction since September, the Energy Department said. Stockpiles were forecast to rise by 200,000 barrels, according to a Bloomberg News survey. Prices also increased after stocks rallied and the dollar dropped.
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