The EIA report showed that the U.S commercial crude oil inventories increased by 3.4million barrels from the previous week. At 366.5million barrels, U.S. crude oil inventories are above the upper limit of the average Range for this time of year. Total motor gasoline inventories decreased by 1.0million barrels last week and are in the lower limit of the average range.

Whereas finished gasoline inventories decreased while blending components inventories increased last week. Distillate fuel inventories decreased by 1.4 million barrels last week and are above the upper limit of the average range for this time of year.