WASHINGTON, March 3 (UPI) -- U.S. crude oil inventories fell by 400,000 barrels in the week ending Feb. 25, the U.S. Energy Information Administration said.
Supplies fell to 346.4 million barrels after four consecutive weeks of increases. Supplies remain above the upper limit of the average range for this time of year, the EIA said.
In Washington Thursday, Treasury Secretary Timothy Geithner told members of the Senate Foreign Relations Committee that strategic oil reserves could be put to use if tension in the Middle East continue for a sustained period.
Gasoline inventories fell by 3.6 million barrels to 234.7 million barrels, but remain above the upper limit of the average range for this time of year.
Supplies of distillate fuels, which include heating oil, fell by 800,000 barrels to 159.2 million barrels.
Inventories of finished gasoline and gasoline blending component stockpiles fell during the week, the energy agency reported.
