the largest weekly change since September 2002, an API economist said. The EIA, however, said it stuck by its stockpile figures and analysts voiced doubt about the API numbers, claiming they could be unreliable due to a lack of participation in the survey by some energy firms. A rally in the dollar on Wednesday was also seen pressuring oil prices by drawing away big money funds from the commodities markets. A stronger dollar makes dollar-denominated oil more expensive for inventories using other currencies. Many analysts have linked a recent rally to a six-week peak of $55.55 for U.S. crude to worries about refined products, especially distillates, rather than to overall supplies. The EIA report Wednesday showed demand growth for diesel, part of the distillate pool, over the past four weeks was 6.6 percent from the same time last year. Gasoline demand growth was 2.4 percent. Analysts are concerned increased consumption of distillates like diesel over the summer months -- felled by European motorists, U.S. truckers and Chinese businesses -- will leave refiners struggling to satisfy winter demand for heating oil, which is also part of the distillates group. Overall U.S. crude stocks are still near six-year highs and 29 million barrels higher than the same time a year ago, the EIA report said.
