U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 13.8 million barrels from the previous week. At 508.6 million barrels, U.S. crude oil inventories are above the upper limit of the average range for this time of year.

Total motor gasoline inventories decreased by 0.9 million barrels last week, but are above the upper limit of the average range. Both finished gasoline inventories and blending components inventories decreased last week.

Distillate fuel inventories remained unchanged last week and are above the upper limit of the average range for this time of year. Propane/propylene inventories fell 6.9 million barrels last week but are in the middle of the average range. Total commercial petroleum inventories increased by 1.4 million barrels last week.

This morning the New York futures for Brent fell 0.44% to $ 54.82 and WTI was down 0.82% to $ 51.74. Thus, the black gold prices traded in the red zone, on the background of the increase in US oil inventories and weakening demand from China. US crude stocks rose by 14.2 million barrels to 503.6 million over the week, according to API while analysts had expected an increase of 2.5 million barrels.

(raw materials / closing price /% change)

Oil 51.69 -0.92%

Gold 1,235.20 -0.07%