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Crude oil stockpiles up moderately in week

April 24, 2013 at 7:05 PM   |   Comments

WASHINGTON, April 24 (UPI) -- U.S. crude oil inventories rose modestly in the week ending Friday, the Energy Information Administration said.

In a report released late Wednesday, the agency said inventories added 900,000 barrels to 388.6 million barrels.

Inventories of crude remain well above the upper limit of the average range for this time of year, the report said.

The EIA said supplies of distillate fuels, which include home heating oil, rose by 100,000 barrels to 115.3 million barrels. Inventories of distillate fuels are in the lower half of the average range for this time of year, the agency said.

Stockpiles of gasoline fell by 3.9 million barrels to 217.8 million barrels this week, but remain in the upper half of the average range for this time of year.

The national average price of unleaded gasoline moved lower for the eighth consecutive week, dropping 0.6 cents to $3.536 per gallon, putting the price of gasoline 33.4 cents lower than in the same week of 2012.

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