Oil and Gasoline Inventories Increase Wednesday, November 7, 4:24 PM ET
The U.S. Energy Information Administration announced today that gasoline and crude oil inventories moved up during the week ended on November 2. Commercial crude oil inventories increased by 1.8 million barrels to 374.8 million barrels. The week before, crude oil inventories decreased by 2 million barrels to 373.1 million barrels. Total gasoline inventories increased by 2.9 million barrels.
Gasoline inventories are up in part due to a drop in demand in the Northeast as a result of Hurricane Sandy, where motorists struggle to find stations with fuel, as logistical fuel delivery problems persist more than a week after the storm.
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