The EIA report showed that U.S. commercial crude oil inventories increased by 0.4 million barrels from the previous week. At 353.5 million barrels, U.S. crude oil inventories are above the upper limit of the average range for this time of year.

While total motor gasoline inventories increased by 1.1 million barrels last week, and are above the upper limit of the average range andfinished gasoline inventories decreased while blending components inventories increased last week. Distillate fuel inventories increased by 3.9 million barrels, and are above the upper boundary of the average range for this time of year.