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Oil supplies slightly higher

June 20, 2013 at 1:33 PM   |   Comments

WASHINGTON, June 20 (UPI) -- U.S. crude oil inventories rose by 330,000 barrels to 394.1 million barrels last week, the Energy Information Administration said.

Crude oil stockpiles are above the upper limit of the average range for this time of year, the EIA said.

The agency, in a report released Wednesday, said supplies of distillate fuels, which include home heating oil, fell by 500,000 barrels to 121.6 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 rose 200,000 barrels to 221.7 million barrels this week and are above the upper limit of the average range for this period.

The national average price of unleaded gasoline fell during the week, dropping 2.9 cents per gallon to reach $3.626 per gallon, putting the price of gasoline 9.3 cents above the same week of 2012.

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