U.S. Crude Stocks Rise 4.7 Million Barrels, EIA Reports

The EIA’s crude increase was smaller than the 9.0 million-barrel rise reported a day earlier by the American Petroleum Institute. At 10:36 a.m. in New York, Brent futures were up 53 cents, or 0.57%, at $93.29 a barrel, but had fallen about $7.50 since the previous Wednesday. West Texas Intermediate was down 22 cents, or 0.25%, at $86.31, also nearly $7.50 lower than a week earlier.

Gasoline inventories increased by 1.8 million barrels after falling by 200,000 barrels the prior week. Average daily gasoline production decreased to 9.6 million barrels. Middle distillate stocks rose by 4.1 million barrels as production declined to an average of 5.1 million barrels a day; inventories were 8% below their five-year average.

Total products supplied, an indicator of U.S. oil demand, averaged 20.8 million barrels per day over the latest four weeks, up 0.9% from the same period last year. Gasoline supplied averaged 8.7 million barrels a day, while the four-week average for distillates was 3.9 million barrels a day, up 4.2% year over year.