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US crude reserves down, gasoline up
AFP
WASHINGTON
Petroleumworld.com 09 14 06
US stockpiles of crude oil fell over the past week but supplies of gasoline and refined products were higher, the Department of Energy said Wednesday.
Crude stockpiles fell by 2.9 million barrels in the week to September 8, to 327.7 million, a slightly steeper drop than the decline of two million barrels expected by financial markets.
But the DoE said crude inventories are 5.6 percent higher than at the same time a year ago and well above normal for the season.
The closely watched inventory level of gasoline or petrol showed an increase of 100,000 barrels to 207 million, compared with a Wall Street estimate of a rise of 200,000.
Still, gasoline supplies are up 6.4 percent from a year ago.
Distillates, used for heating oil and diesel fuel, increased by 4.7 million barrels to 144.6 million, well ahead of forecasts of a gain of two million. These supplies are up 5.8 percent from a year ago.
The DoE said US refineries operated at 93 percent of capacity, compared with from 93.6 percent in the prior week.
After the report, crude oil futures in New York rose four cents to 63.80 dollars per barrel.
AFP 13 1531 GMT 09 06
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