Oil supplies higher in week

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WASHINGTON, June 20 (UPI) -- U.S. crude oil inventories rose in the week that ended Friday, the U.S. Energy Information Administration said Wednesday.

The agency said crude oil inventories rose after two consecutive weekly declines, adding 2.9 million barrels to 387.3 million barrels. Stockpiles remain above the upper limit of the average range for this time of year.

Supplies of distillate fuels, which include home heating oil, rose by 1.2 million barrels to 121.11 million barrels with inventories in the lower limit of the average range.

Stockpiles of gasoline rose by 900,000 barrels to 202.7 million barrels in the current week.

Inventories of finished gasoline and blending components increased, the agency said.

The EIA said the national average price of regular gasoline fell for the eleventh consecutive week with the price dropping 3.9 cents to a national retail average of $3.533 per gallon June 18.

The average price of gasoline came in 11.9 cents under the price from the same week of 2011.