Crude oil supplies down in week

The agency said crude inventories dropped to 364.9 million barrels during the week, with supplies remaining above the upper limit of the average range for this time of year.

Gasoline inventories fell by 2 million barrels to 210.3 million barrels. Gasoline stockpiles are listed as above the upper limit of the average range.

Supplies of distillate fuels, which include heating oil, fell by 5 million barrels to 159.9 million barrels.

Inventories of finished gasoline and stocks of gasoline blending components fell during the week, the energy agency reported.

Using a four-week rolling average, demand for motor gasoline, averaging 9.1 million barrels per day, was 1.8 percent higher than the same period a year ago. Demand for distillate fuel, at 4.1 million barrels per day, rose 16 percent from a year ago.

Demand for jet fuel in the week was 1.3 percent lower than a year ago, the administration said.

The national average retail price for gasoline rose from a week ago and came in 5.9 cents higher than a year ago on Nov. 8 with an average price of $2.865 per gallon, the report said.

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