Oil supplies rose last week

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WASHINGTON, March 6 (UPI) -- U.S. crude oil inventories rose by 3.8 million barrels last week, keeping inventories above the seasonal average, the Energy Information Administration said.

The agency said Wednesday inventories climbed to 381.4 million barrels in the week ending Friday.

The EIA said supplies of distillate fuels, which include home heating oil, fell by 3.8 million barrels to 120.4 million barrels. Inventories of distillate fuels are near the lower limit of the average range for this time of year, the agency said.

Stockpiles of gasoline fell by 600,000 barrels to 227.9 million barrels this week, but remain in the upper half of the average range for this time of year.

After 10 consecutive weekly gains, the national average price of gasoline fell in the week.

The national average price shed 2.5 cents to $3.759 per gallon, putting the price of gasoline 3.4 cents lower than the same week of 2012.