US product stocks soar on drop in demand

摘要

New York-US gasoline and middle distillate stocks increased in the week ended January 1 as demand took a nosedive, an analysis of the oil data released January 5 by the American Petroleum Institute showed. Gasoline stocks increased a hefty 5.575 million barrels to 220.049 million barrels while middle distillate inventories climbed 962,000 barrels to 162.585 million barrels.