Oil prices slip even after inventory drops

FE Team | Published: September 11, 2008 00:00:00 | Updated: February 01, 2018 00:00:00

NEW YORK, Sept 10(AP) Oil prices fell in jittery trading Wednesday, as the strengthening dollar and signs of a slowing economy outweighed inventory drops and OPEC's cutback of excess production. brThe Energy Department's Energy Information Administration said that crude inventories fell by 5.9 million barrels last week compared to the previous week, and that gasoline inventories fell by 6.5 million barrels. The EIA also reported, however, that inventories of distillates - which include heating oil and diesel fuel - fell by a lower-than-anticipated 1.2 million barrels.brRefineries were running at a low 78.3 percent of their capacity last week, the report said.brIt's being seen as somewhat aberrant because of the storms, said John Kilduff, senior vice president of risk management at MF Global LLC.br