US crude oil supplies unchanged

Energy Dept. says US crude oil supplies unchanged last week, gasoline inventories up

Associated Press

NEW YORK (AP) -- The nation's crude oil supplies were unchanged last week, the government said Wednesday.

Crude supplies stayed at 394.1 million barrels, which is 1.8 percent above year-ago levels, the Energy Department's Energy Information Administration said in its weekly report.

Analysts expected a decrease of 2 million barrels for the week ended June 21, according to Platts, the energy information arm of McGraw-Hill Cos.

Gasoline supplies grew by 3.7 million barrels, or 1.6 percent, to 225.4 million barrels. That's 10 percent above year-ago levels. Analysts expected gasoline supplies to rise by 1 million barrels.

Demand for gasoline over the four weeks ended June 21 was 0.3 percent lower than a year earlier, averaging 8.8 million barrels a day.

U.S. refineries ran at 90.2 percent of total capacity on average, up 0.9 percentage point from the prior week. Analysts expected capacity to rise to 89.7 percent.

Supplies of distillate fuel, which include diesel and heating oil, rose by 1.6 million barrels to 123.2 million barrels. Analysts expected distillate stocks to grow by 1 million barrels.

Benchmark crude futures fell by 95 cents to $94.37 a barrel in New York.

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