U.S. crude oil supplies increased by 1.7 million barrels (0.4%) in the week ending April 25, according to an Energy Information Administration report (link opens a PDF) released today.
After supplies expanded by 3.5 million barrels the previous week, this report marks the fourth-straight week of inventory increases. This latest increase stems primarily from a slight slowdown in refinery input. Overall inventories have increased 1% in the past 12 months.
Gasoline inventories expanded by 1.6 million barrels (0.8%) after shrinking by 0.3 million barrels the week before. Demand for motor gasoline over the last four-week period is up a seasonally adjusted 2.1%. In the last year, supplies have dropped 2%.
Over the past week, retail gasoline pump prices increased $0.04 to $3.713 per gallon.
Distillates supplies, which include diesel and heating oil, increased by 1.9 million barrels (1.7%) for the fifth expansion in six weeks. Distillates demand for the last four weeks is up a seasonally adjusted 7.5%. In the past year, distillates inventories have fallen 1.2%.
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