WASHINGTON, Aug. 17 (UPI) -- U.S. crude oil inventories increased by 4.2 million barrels in the week ending Friday, the U.S. Energy Information Administration said.
Crude oil supplies, which dropped by 5.2 million barrels in the previous week, rose to 354 million barrels. Supplies are above the upper limit for the average range for this time of year, the EIA said.
Supplies of distillate fuels, down slightly a week ago, rose by 2.4 million barrels to 154 million barrels, while gasoline inventories fell by 3.5 million barrels to 210.1 million barrels.
Gasoline stockpiles are in the upper limit of the average range for this time of year, the agency said.
Inventories of finished gasoline and blending component supplies both fell, the agency said.
The EIA said the national average price of regular gasoline fell in the week by 7 cents to $3.604 per gallon on Aug. 15, which put the price of gasoline 85.6 cents above the price during the same week of 2010.
|Additional Business News Stories|
ERBIL, Iraq, June 19 (UPI) --Iraq's Kurds have consolidated their growing energy sector with Chevron Corp. securing a third exploration block in the semiautonomous northern region that increasingly operates as a de facto independent state and France's Total buying a majority stake in another.
RIYADH, Saudi Arabia, June 19 (UPI) --Britain's BAE Systems, Europe's biggest defense company, reportedly expects to wrap up a price deal with Saudi Arabia for 72 Eurofighter Typhoon combat jets after two years of tortuous negotiations.