Heating Oil Slides as Petroleum Inventories Continue to Build

Heating oil prices rebounded from their lows intra-day following a larger than expected build in petroleum inventories. Like last week, there was a large increase in gasoline inventories which was offset by a robust draw in propane stocks. Crude oil stocks rose, despite declining imports, as U.S. production continued to climb.

The Department of Energy reported on Wednesday that U.S. crude oil…