U.S. crude oil inventories increase last week

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File photo taken on March 12, 2019 shows operating oil pumps in Luling of Texas, the United States. U.S. oil prices turned negative on April 20, 2020. West Texas Intermediate crude for May delivery shed more than 300 percent to settle at -37.63 U.S. dollars per barrel on the New York Mercantile Exchange. (Xinhua/Wang Ying)
(Xinhua/Wang Ying)

U.S. crude oil inventories increased during the week ending July 17, the U.S. Energy Information Administration (EIA) said in a report on Wednesday.

According to the Weekly Petroleum Status Report, U.S. commercial crude oil inventories, excluding those in the Strategic Petroleum Reserve, increased by 4.9 million barrels from the previous week.

At 536.6 million barrels, U.S. crude oil inventories were about 19 percent above the five-year average for this time of year.

According to the EIA, total motor gasoline inventories decreased by 1.8 million barrels last week and were about 7 percent above the five-year average for this time of year. Finished gasoline inventories increased while blending components inventories decreased last week.

Distillate fuel inventories increased by 1.1 million barrels last week and were about 27 percent above the five-year average for this time of year.

Propane/propylene inventories increased by 2.0 million barrels last week and were about 12 percent above the five-year average for this time of year. Total commercial petroleum inventories increased last week by 8.8 million barrels last week. Enditem

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