facebook
twitter
search
search

Oil supplies slip modestly

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

Like Us on Facebook for more stories from UPI.com  
Related UPI Stories
Latest Headlines
Top Stories
Ford recalls 432,000 North American vehicles over software bug
Compact cannon for British armored vehicles
New Zealand military receives medium heavy military trucks
BBC to lay off 1,000 people to make up for $234M in lost revenue
U.S. proposes tighter pipeline spill rules