EIA: Crude Oil Stockpiles Fell Slightly Last Week

WASHINGTON (AP) - July 30, 2008 The Energy Information Administration says crude supplies dipped by 100,000 barrels, which is less of a decline than expected.

Gasoline inventories dropped 3.5 million barrels, contrary to expectations for an increase.

Demand for gasoline was about 2 and a-half percent below where it was a year earlier.

Inventories of distillate fuel, which include diesel and heating oil, rose 2.4 million barrels. That is a bigger-than-expected increase.

In midday trading, light, sweet crude for August delivery rose 39 cents to $122.58 a barrel on the New York Mercantile Exchange.