Thursday, August 25, 2011

Oil Check

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The American Petroleum Institute late Tuesday reported a drop in crude-oil inventories of 3.3 million barrels in the week ended Aug. 19. The trade group also reported an increase in gasoline stockpiles of 6.4 million barrels, and a rise in inventories of distillates of 2 million barrels. The U.S. Energy Information Administration in its weekly crude oil report Wednesday said U.S. commercial crude oil inventories decreased by 2.20 million barrels to 351.80 million barrels last week, but are above the upper limit of the average range for this time of year. Read Report

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