EIA Bullish U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve)
increased by 1.4 million barrels from the previous week. At 448.5 million barrels, U.S. crude oil
inventories are about 1% below the five year average for this time of year. Total motor gasoline
inventories decreased by 4.5 million barrels from last week and are about 2% below the five year
average for this time of year. Both finished gasoline and blending components inventories
increased last week. Distillate fuel inventories decreased by 4.1 million barrels last week and are
about 10% below the five year average for this time of year. Propane/propylene inventories
slightly decreased from last week and are 4% above the five year average for this time of year.
Total commercial petroleum inventories decreased by 5.5 million barrels last week.