U.S. Crude Oil Supplies Jump 2.6%

U.S. crude oil supplies jumped 10 million barrels (2.6%) for the week ending April 11, according to an Energy Information Administration report (link opens a PDF) released today.

After increasing 4 million barrels the previous week, oil inventories continued their steady 2014 rise. This latest expansion is primarily due to a sharp rise in imports, and is the largest week-to-week move since a decline in early December. Taking this latest increase into account, overall inventories have expanded 1.7% in the past 12 months. 

Source: eia.gov. 

Gasoline inventories dipped an additional 0.2 million barrels (0.05%) in the most recent week after falling 5.2 million barrels the week before. Demand for motor gasoline over the last four-week period is up a seasonally adjusted 4.6%. In the last year, supplies have fallen 5.1%. 

Over the past week, retail gasoline pump prices increased 1.5% to $3.65 per gallon.

Source: eia.gov. 

Distillates supplies, which include diesel and heating oil, fell 1.3 million barrels (1.1%) for the first decline since mid-March. Distillates demand for the last four weeks is down a seasonally adjusted 1.4%. In the past year, distillates inventories have declined 2.9%. 

Source: eia.gov. 

link


Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2918268, ~/Articles/ArticleHandler.aspx, 11/21/2014 7:35:09 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...


Advertisement