U.S. crude oil supplies fell 2.8 million barrels (0.8%) for the week ending Aug. 9, according to an Energy Information Administration report (link opens a PDF) released today.
After decreasing 1.3 million barrels the previous week, this latest report puts inventories down for three of the last four weeks and 1.5% below year-ago levels.
While imports remained almost unchanged over the most recent week, refinery inputs dropped around 282,000 barrels per day (bbpd) below last week's average.
Source: eia.gov.
Gasoline inventories decreased by 1.2 million barrels (0.5%) after bumping up a slight 100,000 barrels the week before. Demand for motor gasoline over the past four weeks is up a seasonally adjusted 2.6% over the same period last year, and supplies remain "near the upper limit of the average range."
Source: eia.gov.
Distillates supplies, which include diesel and heating oil, expanded 2 million barrels for the second week of increases. Distillates demand over the past four weeks is up a seasonally adjusted 8.1% over the same period last year, and supplies are "near the lower limit of the average range for this time of year," according to the EIA.
Source: eia.gov.
-- Material from The Associated Press was used in this report.
