Petroleum Supplies Drop: The American Petroleum Institute...

Petroleum Supplies Drop: The American Petroleum Institute reported that supplies of U.S. heating oil, diesel and jet fuel dropped last week below year-ago levels for the first time this winter, though imports jumped. In the week ended Jan. 25, stocks dropped to 115.4 million barrels from 119 million a week earlier and moved below the 116.5 million barrels in storage during the same week last year. U.S. crude oil stocks, meanwhile, climbed to 324.4 million barrels in the latest week from a revised 321.3 million the week before but were less than the 343.4 million last year.