Aug. 15–U.S. crude oil inventories grew by 6.8 million barrels in the week ending Aug. 10 even as refineries consumed 18 million barrels of oil a day.
Oil stockpiles increased to 414.2 million barrels and stood one percent above the five year average for this time of the year, according to the Department of Energy.
Gasoline inventories decreased by 700,000 barrels but were five percent above the five year average. U.S. refineries were reportedly consuming an average of 18 million barrels of oil a day for the week ending Aug. 10, a 383,000 barrel a day increase from the previous week’s average consumption.
Inventories of distillate fuel — which consists of diesel and aviation fuels — increased by 3.6 million barrels and are eight percent above the five year average. Total petroleum inventories increased 17.4 million barrels.
(c)2018 the San Antonio Express-News
Visit the San Antonio Express-News at www.mysanantonio.com
Distributed by Tribune Content Agency, LLC.