U.S. crude oil inventories declined by 3 million barrels in the week ending Aug. 6, the U.S. Energy Information Administration said Wednesday.
The agency said crude inventories fell to 355 million barrels during the week with supplies remaining above the upper limit of the average range for this time of year.
Gasoline inventories rose by 400,000 barrels in the week. At 223.4 million barrels, stockpiles of gasoline are also above the upper limit of the average range.
Supplies of distillate fuels, which include heating oil, rose by 3.5 million barrels to 173.2 million barrels.
Inventories of finished gasoline were unchanged, while gasoline blending components rose during the week, the energy agency reported.
Using a four-week rolling average, demand for motor gasoline, averaging 9.4 million barrels per day, rose 3.3 percent from a year ago, while demand for distillate fuel, at 3.5 million barrels per day, rose 3.6 percent from a year ago.
Demand for jet fuel in the week was 10.3 percent higher than a year ago, the EIA said.
The national average retail price for gasoline increased 4.8 cents from a week ago but came in 17.8 cents higher than a year ago on Aug. 9, with an average price of $2.783 per gallon, the report said.
