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You are here:  Home / Business News / Crude and gas supplies dropped in week

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Crude and gas supplies dropped in week

Published: April 16, 2008 at 1:16 PM
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WASHINGTON, April 16 (UPI) -- U.S. crude oil inventories dropped and gas supplies fell for the fifth consecutive week, the U.S. Energy Information Administration said Wednesday.

Crude inventories declined 2.3 million barrels to 313.7 million barrels during the week ending April 11, the supply now falling to the lower half of the average range for this time of year, EIA said.

Gas inventories declined 5.5 million barrels, but remain in the upper limit of the average range.

Both finished gasoline inventories and gasoline blending components inventories decreased on the week, but distillate fuel inventories rose by 0.1 million barrels to 106.1 million barrels.

In step with the cancellation of thousands of flights in recent week on inspection concerns, jet fuel demand was down 3.0 percent over the past four weeks compared with the same weeks last year, the report said.



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