Oil prices fell Friday as fresh U.S. economic data and higher-than-expected crude supplies pointed to weak demand. A report showed that cold weather caused U.S. retail sales to drop in January for a second straight month as Americans spent less on autos and clothing and at restaurants during a brutally cold month. The Energy Department said crude stockpiles rose 3.3 million barrels last week, more than analysts had been expecting, while distillate stocks, which include heating fuels and diesel, fell far less than anticipated.
Reported by SeattlePI.com 2 hours ago.
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