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

U.S. crude oil inventories decreased during the week ending Aug. 14, 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, decreased by 1.6 million barrels from the previous week.

At 512.5 million barrels, U.S. crude oil inventories were about 15 percent above the five-year average for this time of year.

According to the EIA, total motor gasoline inventories decreased by 3.3 million barrels last week and were about 7 percent above the five-year average for this time of year. Finished gasoline inventories increased while blending components inventories decreased last week.

Distillate fuel inventories increased by 0.2 million barrels last week and were about 24 percent above the five-year average for this time of year.

Propane/propylene inventories virtually unchanged last week and were about 10 percent above the five-year average for this time of year. Total commercial petroleum inventories decreased last week by 2.6 million barrels last week.