Oil Falls on Rising US Gas Supplies

Oil Dips Toward $57 on Signs US Gasoline Stockpiles Expanded

Futures dropped 1.2% in NY after rising 0.3% on Tuesday.

Federal U.S. data on oil and gasoline supplies comes out late in the trading morning on Wednesday.

The Energy Information Administration reported a 5.6-million-barrel draw in crude oil inventories for the week to December 1, largely in line with the American Petroleum Institute's estimate of a 5.481-million-barrel draw that was reported yesterday. Nationwide crude stockpiles declined, according to the API data. USA output is "likely to have increased further, possibly reaching 9.7 million barrels per day for the time on a weekly data basis", the analysts wrote in a note Wednesday. Unprecedented flooding from the Category 4 storm that slammed into the state's coast last week, sending gasoline prices surging as oil refineries shut, may also set a record for rainfall in the contiguous US, the weather service said Tuesday.

West Texas Intermediate for January delivery was at $57.42 a barrel on the New York Mercantile Exchange, down 20 cents, at 7:45 a.m.in London. Total volume traded was about 8% below the 100-day average.

Loyal Vols fans' season of suffering extended by search
According to Chris Low of ESPN, Alabama defensive coordinator Jeremy Pruitt will have his second interview with Fulmer today. He went on to coach at Nebraska, the Carolina Panthers, and Baylor before he coached at Florida State and Alabama .

Bengaluru: After complaint, Ola driver made six threat calls, says stylist
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Shareholder Epoch Investment Partners INC Increased Abbvie INC (ABBV) Stake
AbbVie Inc (AbbVie) is a research-based biopharmaceutical company. (NYSE:ABBV). 101,635 were reported by Liberty Mutual Gp Asset. Numeric Invsts Limited Liability accumulated 98,700 shares. 100,295 were reported by Convergence Inv Partners Ltd Liability.

Brent for February settlement lost 66 cents to $62.20/bbl on the London-based ICE Futures Europe exchange, after adding 41 cents on Tuesday. Initially the efforts had little impact, but prices began to rise in the second half of the year amid higher compliance with the production curbs and stronger global demand. The global benchmark traded at a premium of $5.30 to February WTI.

Distillate inventories also saw a build this week, rising 4.259-million barrels, against a forecast of a 548,000-barrel build.

New Delhi, Dec 6 Crude oil futures fell by Rs 26 to Rs 3,698 per barrel today as speculators reduced their positions amid a weakening trend overseas.

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