Baku, Azerbaijan, Feb.16
By Leman Zeynalova – Trend:
US crude oil and gasoline inventories have reached the record high over the week ending Feb.10.
US commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 9.5 million barrels from the previous week, the US Energy Information Administration (EIA) said in its This Week in Petroleum report.
“At 518.1 million barrels, US crude oil inventories are above the upper limit of the average range for this time of year. Total motor gasoline inventories increased by 2.8 million barrels last week, and are above the upper limit of the average range,” said the report.
US crude oil imports averaged about 8.5 million barrels per day during the week ending Feb.10, down by 881,000 barrels per day from the previous week, according to EIA.
“Over the last four weeks, crude oil imports averaged about 8.5 million barrels per day, or 9.9 percent above the same four-week period last year,” said the report.
This is while the country’s total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 604,000 barrels per day, said the EIA.
The price for West Texas Intermediate (WTI) oil was $53.84 per barrel on Feb.10, or $0.03 over last week’s price and $24.52 above a year ago, according to EIA estimates.
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