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US oil reserves down but gasoline pool swells
AFP
WASHINGTON
Petroleumworld.com 06 15 06US reserves of gasoline rose in the past week but crude oil stocks fell, the Department of Energy reported Wednesday.
The DoE's weekly inventories report showed crude oil reserves fell by 900,000 barrels to 345.7 million barrels in the week to June 9.
Analysts had expected a smaller fall in crude stocks of 700,000 barrels, but the DoE said they still remained "well above the upper end of the average range for this time of year".
Reserves of gasoline (petrol), which are under scrutiny as US drivers take to the roads en masse for summer holidays, rose by 2.8 million barrels last week to 213.1 million. That was double the forecast rise.
US inventories of distillate fuels such as diesel and heating oil rose by 2.1 million barrels to 122.8 million.
The DoE also reported that US refineries operated at 92.7 percent capacity in the past week, up from 91 percent in the prior week.
Oil prices fell on the report. Benchmark New York crude futures slipped 16 cents to 68.40 dollars a barrel.
AFP 14 1540 GMT 06 06
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