Oil Stockpiles Fall

Oil Stockpiles in the United States fell to 484.8 million barrels last week, and the number of active drilling rigs fell by 3, resulting in a nearly 10 percent increase in West Texas Intermediate futures, the largest increase since August. With the ban on U.S. exports of oil lifted, sources said the first shipment of 600,000 barrels of oil is slated to leave a Houston port in January, with the tanker's destination believed to be Europe.