Novedades de Petroleo y Algo mas

The Amex Oil Index ( $XOI: 1,170.37, 6.10, 0.5% ) rose 0.5% to 1,164.27 points as crude for March delivery jumped $1.17 to $58.14 a barrel. The Amex Natural Gas Index ( $XNG:57.66, 1.85, 0.4% ) rose 0.4%, though natural gas slipped 0.9% to $7.66 per million British thermal units. The Philadelphia Oil Service Index ($OSX: 194.55, 1.54, 0.8% ) climbed 1%.

The Energy Department said distillate supplies, which include heating oil, fell for the first time in seven weeks, down 2.6 million barrels to 140 million for the week ended Jan. 26. But crude supplies rose 2.7 million barrels to 324.9 million, up for a third week. Motor gasoline stocks climbed for a seventh week, up 3.8 million barrels to total 224.6 million barrels. See full story.

Analysts cautioned that the decline in distillate supplies was about average for this time of year, while crude and gasoline gains were much greater than normal. On the oil index, Hess Corp. (HES: 53.82, 0.17, 0.3% ) paced the advance, rising 2.9% to $54.31 after reporting fourth-quarter profit declined 21% to $359 million, or $1.13 a share. Revenue rose 1% to $7.21 billion, the New York energy company said. See full story.

Hess’s production rose to 366,000 barrels a day in fourth-quarter 2006 compared with 316,000 barrels a day in the year-earlier quarter. Analysts polled by Thomson Financial had expected earnings of $1.11 a share. But the shares turned positive, gaining nearly 4% at one point, as management said on a conference call that the company replaced more than twice the amount of oil it produced last year.

Among the majors, Exxon Mobil Corp (XOM: 74.11, 0.01, 0.0% ) was off 0.4% and Chevron Corp. ( CVX 73.25, 0.37, 0.5% ) fell 0.3%.