Baku, Azerbaijan, March 2
By Leman Zeynalova – Trend:
US commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 1.5 million barrels from the previous week, according to the Energy Information Administration (EIA).
At 520.2 million barrels, US crude oil inventories are above the upper limit of the average range for this time of year.
US crude oil imports averaged 7.6 million barrels per day last week, up by 303,000 barrels per day from the previous week, according to EIA’s This Week in Petroleum report.
“Over the last four weeks, crude oil imports of the US averaged 8.2 million barrels per day, 5.1 percent above the same four-week period last year,” said the report.
Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 457,000 barrels per day, while distillate fuel imports averaged 210,000 barrels per day last week, according to the EIA.
The price of the West Texas Intermediate (WTI) oil was $53.99 per barrel on February 24, $0.58 over last week’s price and $22.34 above a year ago.
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