U.S. Crude Inventories and Gas Demand Down
Posted on: Wednesday, 18 June 2008, 15:00 CDT
U.S. crude oil inventories declined by 1.2 million barrels during the week ending June 13, the U.S. Energy Information Administration said Wednesday.
Crude inventories, which fell to 301 million barrels, are at the lower boundary of the average range for this time of year, an EIA report said.
Supplies also declined the previous week.
Gasoline inventories fell by 1.2 million barrels, sliding into the lower half of their average range for this time of year, the report said.
Demand for gasoline has also declined, falling 1.8 percent compared to a year ago to about 9.3 million barrels per day, the report said.
Finished gasoline inventories gained, but gasoline blending components inventories declined in the week.
Distillate fuel inventories, which includes heating oil, increased by 2.6 million barrels, the report said.
Source: United Press International
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