MW: U.S. petroleum inventories continue to rise: EIA
By Moming Zhou
NEW YORK (MarketWatch) -- U.S. total petroleum inventories continued to rise last week, adding to what already is a 19-year high, weekly government petroleum data showed Wednesday. Crude inventories fell by 1.8 million barrels in the week ended July 17, the Energy Information Administration reported. Gasoline inventories, however, rose 800,000 barrels, and distillate stockpiles gained 2 million barrels. Total petroleum inventories increased by 1.9 million barrels and stayed above the upper limit of the average range for this time of year. After the data, September crude futures fell $1.07, or 1.6%, to $64.54 a barrel.
