facebook
twitter
rss
account
search
search
 

Oil supplies slip modestly

Aug. 8, 2013 at 10:37 AM   |   Comments

| License Photo
WASHINGTON, Aug. 8 (UPI) -- U.S. crude oil inventories fell modestly in the week ending Friday, Aug. 2, the Energy Information Administration said in release.

Crude oil stockpiles declined by 1.3 million barrels during the week. At 363.3 million barrels, supplies are near the upper half of the average range on a seasonal basis. The inventory report was released late Wednesday.

The agency said supplies of motor grade gasoline rose by 100,000 to 223.6 million barrels and are above the upper limit of the average range for this time of year.

Supplies of distillate fuels, which include home heating oil, rose by 500,000 barrels to 126.5 million barrels. Inventories of distillate fuels are near the lower limit of the average range for this time of year.

The national average price of unleaded gasoline dropped by 1.4 cents in the week, sliding to $3.632 per gallon, putting the price of gasoline 1.3 cents below the same week of 2012.

© 2013 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.
Most Popular
1
Tesla could face sales ban in Michigan Tesla could face sales ban in Michigan
2
Early completion of refit of Italian aircraft carrier Early completion of refit of Italian aircraft carrier
3
British Reaper UAVs join the fight against Islamic State British Reaper UAVs join the fight against Islamic State
4
Russia doesn't fear Azeri gas, scholar says Russia doesn't fear Azeri gas, scholar says
5
Europe must drop the euro, Germany abandon mercantilism Europe must drop the euro, Germany abandon mercantilism
Trending News
Around the Web
x
Feedback