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Crude oil stockpiles rise

Washington -- U.S. crude oil inventories rose by 5.6 million barrels in the week ending April 10, the U.S. Energy Information Administration said Wednesday.

Crude inventories rose from 361.1 million barrels to 366.7 million barrels and remain above the upper boundary of the average range for this time of year.

Gasoline inventories fell by 0.9 million barrels to 216.5 million barrels, but remain above the upper boundary of the average range.

Supplies of distillate fuels, which includes heating oil, dropped 1.2 million barrels to 139.6 million barrels, also high for this time of year.

Finished gasoline inventories rose, while gasoline blending components inventories fell during the week, EIA reported.

As gasoline demand rises with spring driving and increased field work on farms, demand for motor gasoline over a four-week period is down 0.4 percent compared with the same period a year ago. Distillate fuel demand is down 6.7 percent compared to a year ago, while jet fuel demand has dropped 6.9 percent from the same four-week period in 2008.

Copyright 2009 by United Press International.

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