Crude oil inventories up slightly

April 11, 2013 at 7:46 AM
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WASHINGTON, April 11 (UPI) -- U.S. crude oil inventories rose marginally in the week ending Friday, the Energy Information Administration said.

In a report released late Wednesday, the agency said inventories climbed by 300,000 barrels to 388.9 million barrels and remain well above the upper limit of the average range for this time of year.

Over the past three weeks, inventories have risen by more than 6 million barrels.

The EIA said supplies of distillate fuels, which include home heating oil, fell by 200,000 barrels to 112.8 million barrels. Inventories of distillate fuels are in the lower limit of the average range for this time of year, the agency said.

Stockpiles of gasoline rose by 1.9 million barrels to 222.4 million barrels this week, rising to the upper limit of the average range for this time of year.

The national average price of unleaded gasoline moved lower for the sixth consecutive week, dropping 3.7 cents to $3.608 per gallon, putting the price of gasoline 33.1 cents lower than the same week of 2012.

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