Oil Drops 45 Cents after Gasoline Stockpiles Rose to 227.5 Million

Bloomberg reported that oil dropped 45 cents after Energy Department announced that gasoline stockpiles rose 3.72 million barrels to 227.5 million.

As quoted in the market news:

Crude for February delivery slid 45 cents, or 0.4 percent, to $100.14 a barrel at 12:46 p.m. on the New York Mercantile Exchange.

Click here to read the full Bloomberg report.