Quick Overview

• The Federal Reserve kept the federal funds rate unchanged at 5.25%.
  
  

• The Mortgage Bankers Association said its index of mortgage application dropped 2.7% to 672.1.
  
  

• The U.S. Department of Energy (DOE) said that:
  Supplies of crude oil were up 4.0 million barrels last week to 329.3 million barrels.
  Supplies of gasoline were down 3.4 million barrels
  Supplies of heating oil were down 300,000 barrels.
  YoY Gasoline demand was up 2.1%
  YoY distillate demand was up 3.0%.