Oil prices fell Thursday after the Energy Department reported sharply higher domestic inventories.

Light sweet crude oil for delivery in February settled at $14.48 per barrel, down 29 cents at the New York Mercantile Exchange.Trading was confined to a narrow range and activity was light just before the long holiday weekend. There was no trading Friday.

The American Petroleum Institute had reported Tuesday that domestic oil stockpiles declined by 4.8 million barrels during the previous week. But the DOE late Wednesday said they rose by 2.4 million barrels.

After trading ended Thursday, the API revised its report and said stockpiles rose 1.2 million barrels.

Unleaded gasoline for delivery in January settled at 38.37 cents a gallon, down 1.04 cents.

Home heating oil for delivery in January settled at 44.24 cents a gallon, up .22 cent, due to cold weather and a squaring up of positions before the January contract expired.

Natural gas prices went up, with contracts for delivery in February settling at $1.964 per 1,000 cubic feet, up 7.3 cents.

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