U.S. crude oil supplies down a touch

July 19, 2012 at 12:03 PM
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WASHINGTON, July 19 (UPI) -- U.S. crude oil inventories fell slightly in the week that ended Friday, the U.S. Energy Information Administration said.

The agency said crude oil inventories fell for the fifth week out of the past six, declining by 800,000 barrels to 377.4 million barrels. Stockpiles remain above the upper limit of the average range for this time of year.

Supplies of distillate fuels, which include home heating oil, rose by 2.6 million barrels to 123.5 million barrels with inventories in the lower limit of the average range.

Stockpiles of gasoline fell by 1.8 million barrels to 205.9 million barrels in the current week.

Inventories of finished gasoline and blending components decreased in the week, the agency said.

The national average price of gasoline rose by 1.6 cents in the week to $3.427 per gallon, a price 25.5 cents under the same week of 2011, the agency said.

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