1. Both bulletins showed small weekly rises in inventories of heating oil and other distillate fuels that were close to analysts expectations and small drops in gasoline inventories. 2. A much larger-than-expected drop in gasoline inventories in the United States and reports that Russia would also cut production also contributed to the rise. 3. A larger-than-expected rise in gasoline inventories also helped drag oil prices lower. 4. A larger-than-expected rise in U.S. gasoline inventories also helped push prices lower. 5. By the end of May, gasoline inventories had risen close to year-ago levels. 6. Crude oil and gasoline futures fell in late trading as expectations that imports will swell U.S. supplies offset reports of falling gasoline inventories. 7. Crude oil futures soared amid perceptions U.S. crude imports are set to fall just as demand increases from domestic refiners pushing to replenish lean heating oil and gasoline inventories. 8. Crude oil prices are expected to decline further today after the American Petroleum Institute reported an unexpected rise in U.S. gasoline inventories. 9. Expectations that refiners will start processing more crude to replenish lean gasoline inventories for the peak summer driving season helped prices rebound, traders said. 10. Gasoline fell after a larger-than-expected weekly drop in U.S. gasoline inventories was overshadowed by rising supplies of cleaner-burning reformulated gasoline. |