U.S. Crude Oil, Gasoline Inventories Rise

U.S. crude oil and gasoline inventories last week rose, but heating oil and diesel fuel supplies declined.

The Energy Department said Wednesday U.S. commercial crude oil inventories increased by 5.6 million barrels from the previous week. At 312 million barrels, U.S. crude oil inventories remain above the upper end of the average range for this time of year.

Total motor gasoline inventories last week rose by 2.9 million barrels to 195.7 million barrels, putting them just above the lower end of the average range. However, that still leaves them below the end-September level, as measured by the American Petroleum Institute, of 198 million barrels.

Meanwhile, inventories for both diesel fuel and heating oil fell last week to a combined level of 122.7 million barrels, placing them in the lower half of their average range for this time of year. That compares with end-September levels of 128 million barrels, as reported by the API.