Post: US Crude Oil, Gasoline Inventories Rise Last Week

The US Energy Information Administration announced Wednesday that US crude oil and gasoline inventories rose last week, while distillate inventories declined. 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 5.5 million barrels, to reach 426 million last week. It added that crude oil inventories at the Cushing delivery center in Oklahoma fell by 346,000 barrels, while refinery operating rates increased by 1.8 percent, and US gasoline inventories rose by 0.9 million barrels to reach 213.6 million barrels. The statement indicated that distillate inventories, which include diesel and heating oil, decreased by 1.1 million barrels last week, to reach 113.8 million barrels, while US net imports of crude rose by 913,000 barrels per day. Source: Qatar News Agency