The YEN drops like a rock falling off the Empire State building. Oil & Gas goes up on weak demand. Stock market down.
Crude supplies declined by 600,000 barrels, or 0.2 percent, to 371.1 million barrels, which is 13.3 percent above year-ago levels, the Energy Department's Energy Information Administration said in its weekly report. . For the week, oil gained 2.4% while gold lost 0.3%. Demand for gasoline over the four weeks ended Dec.21 was 2.8 percent lower than a year earlier, averaging 8.5 million barrels a day.
Gasoline supplies rose by 3.8 million barrels, or 1.7 percent, to 223.1 million barrels. That's 2.5 percent above year-ago levels. Analysts expected gasoline supplies to increase by 250,000 barrels.
Weekly data from the U.S. Energy Information Administration
showed U.S. gasoline stocks rose by 3.8 million barrels last
week, capping a five-week build of nearly 23 million barrels.