US crude oil inventories increased 2.27 mln barrels

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 2.3 million barrels from the previous week. At 525.9 million barrels, U.S. crude oil inventories are at historically high levels for this time of year.

Total motor gasoline inventories decreased by 0.7 million barrels last week, but are well above the upper limit of the average range. Finished gasoline inventories remained unchanged while blending components inventories decreased last week.

Distillate fuel inventories increased by 1.5 million barrels last week and are near the upper limit of the average range for this time of year. Propane/propylene inventories rose 2.4 million barrels last week and are above the upper limit of the average range. Total commercial petroleum inventories increased by 4.5 million barrels last week.

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