facebook
twitter
rss
account
search
search
 

Oil stockpile drops in week

Aug. 23, 2012 at 9:19 AM   |   Comments

WASHINGTON, Aug. 23 (UPI) -- U.S. crude oil inventories dropped by 5.4 million barrels in the week that ended Friday, the U.S. Energy Information Administration said.

The agency said crude oil inventories fell to 360.7 million barrels. Supplies of crude oil, however, remain at more than the average range for this time of year.

Supplies of distillate fuels, which include home heating oil, increased 1 million barrels to 125.2 million barrels with inventories less than the lower limit of the average range.

Stockpiles of gasoline fell 1 million barrels to 202.7 million barrels in the current week.

Inventories of finished gasoline and blending components decreased in the week, the agency said.

The national average price of gasoline rose for the seventh consecutive week, adding 2.3 cents in the week to $3.744 per gallon.

The current average price is 16.3 cents more than the same week of 2011, the agency said.

© 2012 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Most Popular
1
Russian bank boss feeling sanctions pain Russian bank boss feeling sanctions pain
2
Navy's Triton surveillance drone flies cross-country Navy's Triton surveillance drone flies cross-country
3
Ukraine's State Guard Service receives armored personnel carriers Ukraine's State Guard Service receives armored personnel carriers
4
Additional sub-components being made for Ballistic Missile Defense radar Additional sub-components being made for Ballistic Missile Defense radar
5
Army deploying JLENS radar system to help protect Washington, D.C. Army deploying JLENS radar system to help protect Washington, D.C.
Trending News
Video
x
Feedback