Oil Inventories Up 1.8% to Highest Level Since November

U.S. crude-oil supplies increased 6.6 million barrels (1.8%) for the week ending March 21, according to an Energy Information Administration report (link opens a PDF) released today.

After expanding 5.9 million barrels the previous week, this latest report puts overall supplies at a size not seen since last November. While an increase in refinery inputs helped slow the inventory increase somewhat, a boost in oil imports kept supplies expanding. Overall inventories have declined 0.9% in the past 12 months. 


Source: Eia.gov 

While oil supplies soared, gasoline inventories dropped 5.1 million barrels (2.3%) after falling 1.5 million barrels the week before. Demand for motor gasoline over the last four-week period is up a seasonally adjusted 3.4%. In the last year, supplies have dropped 1.8%. 

Over the past week, retail gasoline pump prices edged up to $3.55 per gallon.

Source: Eia.gov 

Distillates supplies, which include diesel and heating oil, increased 1.6 million barrels (1.4%) after shrinking 3.1 million barrels the week before. Distillates demand for the last four weeks is down a slight seasonally adjusted 0.9%. In the past year, distillates inventories have declined 2.5%. 

Source: Eia.gov 

link

The article Oil Inventories Up 1.8% to Highest Level Since November originally appeared on Fool.com.

Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 - 2014 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.


Increase your money and finance knowledge from home

Investing Like Warren Buffett

Learn from one of the world's best investors.

View Course »

Portfolio Basics

What are stocks? Learn how to start investing.

View Course »

Add a Comment

*0 / 3000 Character Maximum