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Gasoline Supplies Fall 1.2%

By Justin Loiseau - Feb 26, 2014 at 6:14PM

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Crude oil inventories stay steady, while distillates expand slightly.

U.S. crude oil supplies stayed steady for the week ending Feb. 21, adding on just 100,000 barrels, according to an Energy Information Administration report (link opens a PDF) released today.

After increasing 1.0 million barrels the previous week, this latest report marks the sixth straight week of steady or expanding supplies. Overall inventories have decreased 4% in the past 12 months. 

Source: eia.gov. 

While oil stayed steady, gasoline inventories declined 2.8 million barrels (1.2%) after edging up 0.3 million barrels the week before. Demand for motor gasoline over the past four-week period is down a seasonally adjusted 1.5%. In the past year, supplies have edged up a slight 0.9%. 

Over the past week, retail gasoline pump prices increased $0.06 to $3.44.

Source: eia.gov. 

Distillates supplies, which include diesel and heating oil, expanded 0.3 million barrels (0.4%), exactly offsetting the previous week's draw. Distillates demand for the past four weeks is down a seasonally adjusted 0.1%. In the past year, distillates inventories have shrunk 8.9%. 

Source: eia.gov. 

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