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Home >> Business
UPDATED: 07:40, June 30, 2005
US commercial crude oil inventories rebound last week
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US commercial crude oil inventories rebounded last week after three consecutive weekly declines, the Energy Department reported Wednesday.

During the week ending June 24, commercial crude oil stockpiles increased by 1.1 million barrels to 328.5 million. That was the first build of crude oil in four weeks.

Gasoline inventories also rose by 300,000 barrels to 216.2 million last week. And the supply of distillates, including heating oil and diesel, were up 1.7 million barrels to 113.2 million.

A parallel survey by the private American Petroleum Institute found that the country's commercial crude oil jumped 2.857 million barrels last week to 325.82 million.

The survey showed that gasoline reserve surged 4.64 million barrels to 220.37 million last week and distillate fuel inventories climbed up 2.039 million barrels to 113.159 million.

The data for commercial crude oil inventories does not include the US Strategic Petroleum Reserve which stood at 693.3 million barrels early June. The Bush administration plans to raise the reserve to 700 million barrels by September this year.

Source: Xinhua


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