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Oil supplies rise in week

Washington -- U.S. crude oil inventories rose by 1.8 million barrels in the week ending Nov. 6, the U.S. Energy Information Administration said Thursday.

Washington -- U.S. crude oil inventories rose by 1.8 million barrels in the week ending Nov. 6, the U.S. Energy Information Administration said Thursday.

Crude inventories rose to 337.7 million barrels during the week with levels slightly above the upper limit of the average range for this time of year.

Gasoline inventories increased by 2.5 million barrels to 210.8 million barrels and are above the upper limit of the average range.

Supplies of distillate fuels, which include heating oil, increased by 0.3 million barrels to 167.7 million barrels.
Finished gasoline inventories increased and gasoline blending components inventories increased during the week, EIA reported.

Demand for petroleum has dropped from a year ago. Using a four-week rolling average, gasoline demand is down 1 percent, distillate fuel demand down 13.8 percent and jet fuel demand down 4 percent compared with a year ago.

Copyright 2009 by United Press International.

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