US Commercial Crude Oil Inventories Rise Slightly Last Week
Posted on: Thursday, 4 August 2005, 09:00 CDT
US commercial crude oil inventories rise slightly last week
WASHINGTON, Aug. 3 (Xinhua) -- US commercial crude oil inventories went up unexpectedly last week while gasoline stockpiles were sharply down, the Energy Department reported Wednesday in its weekly survey.
In the week ending July 29, the country's commercial crude oil inventories increased by 200,000 barrels to 318 million barrels, or 8 percent above the year ago level, according to the survey.
The gain took analysts by surprise as they had been expecting a drop of about 1.4 million barrels for the week.
Data released by the department also showed that gasoline stockpiles last week fell by 4 million barrels to 205.2 million, or 3 percent below last year's level.
But the supply of distillate fuel, which includes diesel and heating oil, rose 1.5 million barrels to 127.3 million, or 5 percent above the last year level.
The data for commercial crude oil inventories does not include the US Strategic Petroleum Reserve, which is now nearly 700 million barrels.
Source: Xinhua News Agency - CEIS
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