Crude oil supplies drop in week

The energy agency said crude inventories fell from 330.6 million barrels to 326.7 million barrels during the week and held just above the upper limit of the average range for this time of year.

Gasoline inventories rose by 2 million barrels to 229.4 million barrels and are also above the upper limit of the average range.

Supplies of distillate fuels, which include heating oil, rose by 400,000 barrels to 157.5 million barrels.

Finished gasoline inventories and gasoline blending components inventories rose during the week, the energy agency reported.

Using a four-week rolling average for comparison, demand for motor gasoline is off 0.8 percent from the same period a year ago, while distillate fuel demand is down 8.1 percent. Jet fuel demand is 1.5 percent higher than the same four-week stretch of a year ago.

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