US Crude Oil Inventories Rose Last Week

The US Energy Information Administration announced Wednsday that crude oil inventories in the United States rose last week, while gasoline and distillate inventories fell. The administration, which is the statistical arm of the US Department of Energy in its short-term energy estimates, explained in a statement that crude inventories rose by 1.36 million barrels, reaching 430.7 million last week. It added that crude oil inventories at the Cushing delivery center in Oklahoma fell by 1.7 million barrels, while refinery crude consumption rose by 65,000 barrels per day last week, and refinery operating rates rose by one percent during the week to 91.5 percent. The statement noted that gasoline inventories fell by 2.9 million barrels to reach 222.2 million, while distillate inventories, which include diesel and heating oil, fell by 1.7 million barrels to reach 126.1 million barrels. Source: Qatar News Agency