Sensational Increase Of US Fuel Supplies

The US Energy Department reported on Wednesday that the commercial crude stockpiles increased by 900,000 barrels to 293.3 million barrels in the last week ending on Nov. 26.

The inventories of crude oil were 9 million barrels higher than the level at the same time of last year. The stockpiles of heating oil, diesel and jet fuel rose 2 percent to 117.9 million barrels last week, and it?s the biggest gain in four months

The report also said that the US stocks of gasoline surged by 3 million barrels in the week comparing with the previous week. The stocks of gasoline totaled 205.7 million barrels last week, 8.6 million barrels above the level in the same period of last year.

Oil futures plunged almost $4 Wednesday reacting on a US government report.