Crude oil supplies hold relatively steady in week

Feb. 5, 2014 at 3:42 PM

WASHINGTON, Feb. 5 (UPI) -- U.S. crude oil supplies rose marginally in the week ending Jan. 31, climbing by 400,000 barrels to 358.1 million, the Energy Information Administration said.

Inventories are in the upper half of the average range for this time of year, the agency said.

The EIA said supplies of motor-grade gasoline supplies rose by 500,000 barrels to 235 million barrels and are well above the upper limit of the average range for this time of year.

Supplies of distillate fuels, which include home heating oil, fell by 2.4 million barrels to 113.8 million and are well below the lower limit of the average range for this time of year.

The national average retail price of regular unleaded gasoline fell for the fourth consecutive week, dropping by 0.3 cent to $3.292 per gallon. The price is 24.6 cents per gallon under the price in the same week of 2013, the EIA said.

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