U.S. stocks log biggest 1-month gain since 1990
U.S. crude oil inventories have logged their biggest 1-month gain since 1990, American Petroleum Institute reported. U.S. crude oil inventories jumped 7.4% in October to 343.2 million bbl and were 8.6% higher than the same time a year ago. It said the 7.4% increase was due to reduced refinery runs on the Gulf Coast and East Coast amid little change in the rate of U.S. oil imports. Estimated U.S. gasoline deliveries were 8.31 million b/d, up 2.1% from October 1997.