Friday, July 11, 2014

US crude oil supplies drop by 1.5 million barrels

February 19. 2013 6:28PM
Story Tools
PrintPrint | E-MailEMail | SaveSave | Hear Generate QR Code QR
Send to Kindle

(AP) The nation's crude oil supplies shrank last week, the government said Wednesday.

Crude supplies fell by 1.5 million barrels, or 0.4 percent, to 374.5 million barrels, which is 13.2 percent above year-ago levels, the Energy Department's Energy Information Administration said in its weekly report.

Analysts expected an increase of 1 million barrels for the week ended Nov. 16, according to Platts, the energy information arm of McGraw-Hill Cos.

Gasoline supplies dropped by 1.5 million barrels, or 0.8 percent, to 200.4 million barrels. That's 4.4 percent lower than year-ago levels. Analysts expected gasoline supplies to grow by 1.25 million barrels.

Demand for gasoline over the four weeks ended Nov. 16 was 1.6 percent higher than a year earlier, averaging 8.7 million barrels a day.

U.S. refineries ran at 87.5 percent of total capacity on average, up 1.5 percentage points from the prior week. Analysts expected capacity to increase to 86.7 percent.

Supplies of distillate fuel, which include diesel and heating oil, fell by 2.7 million barrels to 112.8 million barrels. Analysts expected distillate stocks to decline by 1 million barrels.

Benchmark crude rose 74 cents to $87.49 a barrel in New York.

Associated Press

comments powered by Disqus Commenting Guidelines
Mortgage Minute

Search for New & Used Cars

Used New All

Search Times Leader Classifieds to find just the home you want!

Search Times Leader Classifieds to find just what you need!

Search Pet Classifieds
Dogs Cats Other Animals

Social Media/RSS
Times Leader on Twitter
Times Leader on Youtube
Times Leader on Google+
The Times Leader on Tumblr
The Times Leader on Pinterest
Times Leader RSS Feeds