EIA: Fuel stocks increasing as demand falls

Inventories of oil and fuel are rising again as demand begins to fall, easing the tight supply market that drove soaring prices.

Oil inventories increased 1 percent to 427 million barrels last week from 424 million barrels the week earlier, leaving stocks about 5 percent below normal for this time of year, the Energy Department reported Wednesday. Gasoline inventories increased 3 percent to 225 million barrels from 219 million barrels, leaving stocks 5 percent below normal.Demand for gasoline during the four-week reporting period fell 8 percent to 8.7 million barrels per day from 9.

Refining capacity, however, got tighter last week as refineries operated at 95 percent of their collective capacity. Even as inventories of distillate fuels including diesel increased 2 percent to 114 million barrels last week, stocks remain 18 percent below normal for this time of year.

Colombia Últimas Noticias, Colombia Titulares

Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.

Small business group calls for relief at pumps amid high fuel costsThe Canadian Federation of Independent Business is also asking for the small business deduction threshold to be raised to $600,000 from $500,000, as is now the…
Fuente: TheStarPhoenix - 🏆 253. / 63 Leer más »