U.S. OIL INVENTORIES UP 2.8 MBL
US commercial crude oil inventories, excluding the Strategic Petroleum Reserve, increased 2.8 million bbl for the week ended Apr. 29 compared with the previous week. The US Energy Information Administration estimated a total of 543.4 million bbl, which is historically high for this time of year.
Total motor gasoline inventories increased 500,000 bbl for the week ended Apr. 29, which EIA called well above the upper limit of the average range. Both finished gasoline inventories and blending components inventories increased last week, the Petroleum Status Report said.
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