Crude oil supplies rise in week

Crude inventories rose from 326 million barrels to 327.3 million barrels, during a week, reaching the above the upper limit of the average range for this time of year, EIA said.
Gasoline inventories rose by 3.7 million barrels to 219.7 million barrels and are also above the upper limit of the average range.

Supplies of distillate fuels, which include heating oil, dropped by 300,000 barrels to 159 million barrels.

Finished gasoline and gasoline blending components inventories both rose during the week, EIA reported.

Using a four-week rolling average for comparison, demand for motor gasoline is up 0.3 percent from the same period a year ago, while distillate fuel demand is down 1 percent.

Jet fuel demand is 8.2 percent higher than the same four-week stretch of a year ago.

Copyright 2010 by United Press International.