Oil prices fell yesterday as the U.S. Department of Energy reported an increase in crude inventories and a drop in gasoline and distillates for the week ending November 9th. Following the week of Hurricane Sandy, the report reflected crude inventories remain heavy, while distillate inventories remain low in comparison to the previous year. December crude futures fell by 87 cents and settled at $85.45, while heating oil fell $.0147 to $2.9735 and RBOB fell by $.0172 to $2.6962. Additionally, consumer prices increased for the month of October, while U.S. jobless claims surged for the week ending November 10th.
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