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Crude oil inventories rise in week

Sept. 12, 2012 at 9:11 PM   |   Comments

WASHINGTON, Sept. 12 (UPI) -- U.S. crude oil inventories rose by 2 million barrels in the week that ended Friday, the U.S. Energy Information Administration said.

The agency said crude oil inventories rose to 359.1 million barrels. Supplies of crude oil remain above the upper limit of the average range for this time of year.

Supplies of distillate fuels, which include home heating oil, increased by 1.5 million barrels to 128.6 million barrels with inventories under the lower limit of the average range.

Stockpiles of gasoline fell 1.2 million barrels to 197.7 million barrels in the current week, leaving supplies in the lower half of the average range.

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

The national average price of gasoline rose for the 10th consecutive week, adding 0.4 cents in the week to $3.847 per gallon.

The current average price is 18.6 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.
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