Overall U.S. oil demand rose 0.4% in October.
The increase occurred as deliveries of home heating oil and diesel fuel picked up and offset a decline in gasoline usage, the American Petroleum Institute reported. Strong air traffic levels bolstered demand for kerosene jet fuel and utilities generated more electricity in October, raising deliveries of residual fuel oil, the industry trade group said. In October, U.S. oil demand edged up to 15.68 million barrels a day from 15.61 million barrels a day in the same 1984 month. Deliveries of gasoline, which accounts for more than 40% of the nation’s daily oil use, fell 0.2% to 6.71 million barrels a day from a year earlier.
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