Tags: US | Crude | Inventories

Oil, Gasoline Supplies Rise Amid Steady Demand

Wednesday, 03 Mar 2010 02:58 PM

 

Crude oil and gasoline supplies rose last week, the government said Wednesday.

Crude inventories rose by 4.1 million barrels, or 1.2 percent, to 341.6 million barrels. That was 3.7 percent below year-ago levels, the Energy Department's Energy Information Administration said in its weekly report.

Analysts expected a build of 1.1 million barrels for the week ended Feb. 26, according to a survey by Platts, the energy information arm of McGraw-Hill Cos.

Gasoline inventories rose by 700,000 barrels, or 0.3 percent, to 231.9 million barrels. That was higher than analysts' expectations and 7.4 percent above year-ago levels.

Demand for gasoline over the four weeks ended Feb. 26 was 0.1 percent higher than a year earlier, averaging nearly 8.8 million barrels a day.

At the same time, U.S. refineries ran at 81.9 percent of total capacity on average, a rise of 0.7 percentage point from the prior week. Analysts expected capacity to fall to 81.1 percent.

Inventories of distillate fuel, which include diesel and heating oil, fell by 900,000 barrels to 151.8 million barrels for the week ended Feb. 26. Analysts expected a decline of 975,000 barrels.

Benchmark crude prices added 48 cents at $80.16 per barrel on the New York Mercantile Exchange.

© Copyright 2015 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Army Officer: Bergdahl Charged With Desertion, WH Wants It Kept Quiet

Monday, 26 Jan 2015 23:06 PM

Army Sgt. Bowe Bergdahl has been charged with desertion, but the White House is trying to keep the story under wraps, a  . . .

Indiana Gov. Pence to Launch News Website

Monday, 26 Jan 2015 23:03 PM

Indiana Gov. Mike Pence, a Republican, is poised to launch a state-run news website that he says will break news stories . . .

Snowstorm Threatens to Paralyze Northeast for Days

Monday, 26 Jan 2015 18:12 PM

Tens of millions of people along the Philadelphia-to-Boston corridor rushed to get home and settle in Monday as a fearso . . .

Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved