To: Road Walker who wrote (436856 ) 11/26/2008 11:44:52 AM From: tejek Read Replies (1) | Respond to of 1574054 Crude Oil Pares Gains On Surge In Weekly Inventories 41 minutes ago (RTTNews) - Oil gave back most of its early gains on Wednesday after Energy Information Administration data showed a much larger than expected build in weekly inventories. Light sweet crude oil moved to $51.03, up 24 cents on the session. Prices touched as high as $53 in overnight trading, but dipped as low as $50.15 following the mid-morning EIA report. U.S. commercial crude oil inventories increased 7.3 million barrels in the week ended Nov. 21. This is much larger than the 1 million barrel build expected by analysts. At 320.8 million barrels, U.S. crude oil inventories are in the upper half of the average range for this time of year. Total motor gasoline inventories increased by 1.9 million barrels last week, and are near the lower boundary of the average range. Both finished gasoline inventories and gasoline blending components inventories increased last week. Distillate fuel inventories declined by 200,000 barrels, and are near the lower boundary of the average range for this time of year. Propane/propylene inventories fell last week and remain below the lower limit of the average range. Total commercial petroleum inventories increased by 9.7 million barrels last week, and are in the middle of average range for this time of year. Total products supplied over the last four-week period has averaged nearly 19.2 million barrels per day. This is down by 6.6 percent compared to the similar period last year. Over the last four weeks, motor gasoline demand has averaged about 9.0 million barrels per day, down by 2.8 percent from the same period last year. Distillate fuel demand has averaged 4.0 million barrels per day over the last four weeks, down by 2.2 percent and jet fuel demand is 17.7 percent lower over the last four weeks. Natural gas inventory is due at noon ET, a day earlier than usual because of the Thanksgiving holiday in the U.S. January natural gas moved up 1.7 cents at $6.403 ahead of the data.news.ino.com