Crude oil supplies rise in week

Feb. 12, 2014 at 4:54 PM

WASHINGTON, Feb. 12 (UPI) -- U.S. crude oil supplies rose by 3.3 million barrels in the week ending Feb. 7, rising to 361.4 million, the Energy Information Administration said Wednesday.

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 declined by 1.9 million barrels to 233.1 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 700,000 barrels to 113.1 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 rose by 1.7 cents after four consecutive weeks of declining prices.

At $3.30.9 per gallon, the price of unleaded at the pump is 30.2 cents per gallon under the price in the same week of 2013, the EIA said.

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