Crude oil stockpiles edge higher

May 9, 2013 at 11:01 AM
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WASHINGTON, May 9 (UPI) -- U.S. crude oil inventories rose slightly in the week ending Friday, building on record high inventory levels, the Energy Information Administration said.

Crude oil stockpiles rose by 200,000 barrels to reach 395.5 million barrels, a modest gain on the week, but one that builds on what was already the highest inventory level in 82 years.

In a report released late Wednesday, the agency said supplies of distillate fuels, which include home heating oil, rose by 1.8 million barrels to 117.6 million barrels. Inventories of distillate fuels are in the lower half of the average range for this time of year, the agency said.

Stockpiles of gasoline fell by 900,000 barrels to 215.1 million barrels this week, but are in the middle of the average range for this time of year.

The national average price of unleaded gasoline rose for the first time in 10 weeks, adding 1.8 cents to $3.538 per gallon, putting the price of gasoline 25.2 cents lower than in the same week of 2012.

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