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US fuel inventories mixed

AFP
WASHINGTON
Petroleumworld.com 10 13 06
US stockpiles of crude oil and gasoline surprisingly jumped in the past week, but winter fuels slumped, according to data released Thursday.

In a weekly survey of US inventories, the Department of Energy said crude oil reserves surged 2.4 million barrels to 330.5 million in the week to October 6.

That was much more than the rise of 1.5 million barrels expected by energy traders.

The DoE said that reserves of gasoline or petrol crept up 300,000 barrels to 215.4 million, compared with expectations for a fall of 450,000 barrels.

But inventories of distillates, used for heating oil and diesel fuel, tumbled 1.6 million barrels to 149.9 million.

After the report, crude oil futures in New York rose 23 cents to 57.82 dollars a barrel.

AFP 12 1514 GMT 10 06

Copyright ©2006 AFP. All Rights Reserved.

 

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