Please ensure Javascript is enabled for purposes of website accessibility

Crude Oil Inventories Drop 1.9%

By Justin Loiseau – Jan 3, 2014 at 2:38PM

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

Motor gasoline and distillates supplies are up.

U.S. crude oil supplies continue to drop, down 7.0 million barrels (1.9%) for the week ending Dec. 27, according to an Energy Information Administration report (link opens a PDF) released today.

After falling 4.7 million barrels the previous week, this latest report marks the fifth straight week of draws. Refinery inputs continue to push supplies down, with refinery capacity utilization rates clocking in at 92.3%. Overall inventories are up 0.2% in the past 12 months. 


Gasoline inventories increased 0.8 million barrels (0.4%), cancelling out the previous week's 0.6 million barrel draw. Demand for motor gasoline over the last four-week period is up a seasonally adjusted 3.5% over the same period a year ago. In the last year, supplies have decreased 2.2%. 

Over the past week, retail gasoline pump prices increased $0.06 per gallon to $3.331 per gallon on Dec. 30.


Distillates supplies, which include diesel and heating oil, added on 5.0 million barrels (4.4%) after dropping 1.9 million barrels the previous week. Distillates demand for the last four weeks is up a seasonally adjusted 1.3% from the same period the previous year. In the past year, distillates inventories have dropped 4%. 



You can follow Justin Loiseau on Twitter, @TMFJLo, and on Motley Fool CAPS, @TMFJLo We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Invest Smarter with The Motley Fool

Join Over 1 Million Premium Members Receiving…

  • New Stock Picks Each Month
  • Detailed Analysis of Companies
  • Model Portfolios
  • Live Streaming During Market Hours
  • And Much More
Get Started Now

Related Articles

Motley Fool Returns

Motley Fool Stock Advisor

Market-beating stocks from our award-winning analyst team.

Stock Advisor Returns
S&P 500 Returns

Calculated by average return of all stock recommendations since inception of the Stock Advisor service in February of 2002. Returns as of 11/27/2022.

Discounted offers are only available to new members. Stock Advisor list price is $199 per year.

Premium Investing Services

Invest better with The Motley Fool. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services.