US Inventories of Commercial Crude Oil, Gasoline Rise

US inventories of commercial crude oil, gasoline rise

WASHINGTON, Nov. 9 (Xinhua) — US inventories of commercial crude oil and gasoline rose in the week ending Nov. 4 but distillate stocks fell, the Energy Department reported Wednesday in its weekly survey.

Data showed that the country’s commercial crude oil inventories increased last week by 4.5 million barrels to 323.6 million, marking the fifth consecutive weekly gain. Gasoline stocks also went up 4.2 million barrels to 201.1 million last week.

But supplies of distillate, including diesel and heating oil, fell 100,000 million barrels to 120.8 million.

A parallel survey by the private American Petroleum Institute( API) found that US commercial crude inventories rose by 4.7 million barrels last week. Gasoline inventories went up 4.1 million barrels and distillate stocks fell 2.8 million, according to the API survey.

The figures for US commercial crude oil inventories do not include the US Strategic Petroleum Reserve, which currently holds crude oil of about 700 million barrels.