Crude oil supplies drop in week

Dec. 18, 2013 at 6:11 PM   |   0 comments

WASHINGTON, Dec. 18 (UPI) -- U.S. crude oil supplies fell in the week ending Friday, dropping by 2.9 million barrels to 372.3 million, the Energy Information Administration said.

Inventories remain above the upper limit of the average range for this time of year, the agency said in Wednesday's report.

The EIA said supplies of motor-grade gasoline supplies rose by 1.3 million barrels to 220.5 million barrels and are in the upper half of the average range for this time of year.

Supplies of distillate fuels, which include home heating oil, fell by 2.1 million barrels to 116 million and are below the lower limit of the average range for this time of year.

The national average retail price of regular unleaded gasoline fell in the week by 3 cents to $3.239 per gallon. The price is 1.5 cents per gallon below the price in the same week of 2012, the EIA said.

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