U.S. crude oil inventories increased during the week ending July 3, 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 5.7 million barrels from the previous week.
At 539.2 million barrels, U.S. crude oil inventories were about 18 percent above the five-year average for this time of year.
According to the EIA, total motor gasoline inventories decreased by 4.8 million barrels last week and were about 8 percent above the five-year average for this time of year. Finished gasoline and blending components inventories both decreased last week.
Distillate fuel inventories increased by 3.1 million barrels last week and were about 27 percent above the five-year average for this time of year.
Propane/propylene inventories increased by 2.2 million barrels last week and were about 7 percent above the five-year average for this time of year. Total commercial petroleum inventories increased last week by 9.8 million barrels last week.
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