U.S. crude oil inventories increase last week: EIA

U.S. crude oil inventories increased during the week ending Feb. 28, the U.S. Energy Information Administration (EIA) said in a report on Wednesday.

According to the Weekly Petroleum Status Report, U.S. commercial crude oil inventories, excluding those in the Strategic Petroleum Reserve, increased by 800,000 barrels from the previous week.

At 444.1 million barrels, U.S. crude oil inventories were about 4 percent below the five-year average for this time of year.

According to the EIA, total motor gasoline inventories decreased by 4.3 million barrels last week and were about 2 percent above the five-year average for this time of year. Finished gasoline and blending components inventories both decreased last week.

Distillate fuel inventories decreased by 4 million barrels last week and were about 7 percent below the five-year average for this time of year.

Propane/propylene inventories decreased by 3.6 million barrels last week and were about 37 percent above the five-year average for this time of year. Total commercial petroleum inventories decreased last week by 11.9 million barrels last week.