Oct. 31–Oil prices fell slightly Wednesday morning as oil inventories climbed.
Crude oil inventories rose by 3.2 million barrels from the previous week to 426 million. Oil inventories are 2 percent above the five-year average for this time of year.
The oil inventory increase was offset by a decrease in gasoline inventories of 3.2 million barrels. Gasoline inventories remain about 6 percent higher than the five-year average for this time of year.
Refinery inputs averaged just 16.4 million barrels a day, a slight build of 149,000 barrels a day compared with a week ago. U.S. refineries are operating at 89.4 percent of their capacity.
Oil prices have fallen from $76.10 a barrel on Oct. 3 to just above $66 a barrel in Wednesday trading.
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