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Location: ForexNews.com - FX News and Analysis, Live Currency ...The stockpile of U.S. crude fell by 3.6 million barrels according to the Energy Information Administration EIA when the forecast called for a gain of about half a million barrels. The price of oil could not capitalize on the drop in crude supply given that refined oil also surprised with a larger than expected increase. The larger stockpile of distillates offset the earlier gains on lower crude inventories. Warmer than usual weather is blamed for distillate demand being lower. The worldwide supply glut of crude and refined oil means that U.S. producers have nowhere to send the excess inventory, putting further downward pressure on the price of oil.The stockpile of U.S. crude fell by 3.6 million barrels according to the Energy Information Administration EIA when the forecast called for a gain of about half a million barrels. The price of oil could not capitalize on the drop in crude supply given that refined oil also surprised with a larger than expected increase. The larger stockpile of distillates offset the earlier gains on lower crude inventories. Warmer than usual weather is blamed for distillate demand being lower. The worldwide supply glut of crude and refined oil means that U.S. producers have nowhere to send the excess inventory, putting further downward pressure on the price of oil.