The Department of Energy`s Energy Information Administration said that crude oil inventories once again edged up by 100,000 barrels in the week ended June 8. Specifically, the measure rose to 342.4 million barrels from the previous week`s level of 342.3 million barrels. The advance matched the previous week, when stockpiles also rose by 100,000 barrels. Oil inventories were 0.8% above last year`s level.
Meanwhile, gasoline inventories were flat for the week. This followed an advance of 3.5 million barrels recorded during the previous period. The level of gasoline inventories was 6% below last year.
Meanwhile, distillate fuel oil ticked up for the week. Stockpiles of these products, which include heating oil, rose by 300,000 barrels. However, this marked a notable slowdown in growth following an advance of 1.9 million barrels in the previous week.
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