Crude oil supplies up in week

WASHINGTON, Aug. 20 (UPI) -- U.S. crude oil inventories increased by 9.4 million barrels in the week ending Aug. 15, the U.S. Energy Information Administration said Wednesday.

Crude inventories rose from 296.6 million barrels last week to 305.9 million barrels, pulling into the middle of the average range for this time of year, EIA said.

Gasoline inventories fell by 6.2 million barrels from 202.8 million barrels to 196.6 million,

dropping below the lower boundary of their average range for this time of year, the report said.

Investors use the figures to gauge consumer and factory demands on energy commodities, judging the availability of money accordingly.

Finished gasoline inventories and gasoline blending components inventories both fell during the week. Distillate fuel inventories, which includes heating oil, increased by 500,000 barrels and are in the upper half of the average range, the report said.