U.S. crude oil inventories fell for the third consecutive week, the U.S. Energy Information Administration said Wednesday.
In a press statement, the EIA said crude oil supplies dropped by 3.7 million barrels in the week ending 15 July. In the previous two weeks, stockpiles fell by 4.4 million barrels and 900,000 barrels, consecutively.
Oil supplies, at 351.7 million barrels, remain in the upper limit for the average range for this time of year, the EIA said.
Supplies of distillate fuels in the week rose by 3.4 million barrels to 148.5 million barrels, while gasoline inventories rose by 800,000 barrels to 212.5 million barrels. Gasoline stockpiles are in the middle of the average range for this time of year, the agency said.
Inventories of finished gasoline rose and blending component supplies rose during the week, the agency said.
The EIA said the national average price of regular blend rose by 4.1 cents to $3.682 18 July, which put the price of gasoline 96 cents above the price during the same week of 2010.
