The EIA report showed that crude oil inventories increased by 7.3 Million barrels from previous week where. The inventories continued the prior rise of 400 thousand barrel where the inventories were expected to fall by a 1.4 Million drop. At 360.8 Million barrels, US crude oil inventories are above the upper limit of the average range for this time of the year.
While total motor gasoline Inventories increased by 0.1 Million barrels last week, and are above the upper limit of the average range and finished gasoline inventories decreased while components inventories increased last week. Distillate fuel inventories increased by 0.9 Million barrels, and are above the upper boundary of the average range for this time of the year.