Mumbai, April 9 -- Crude oil inventories in the United States increased by 3.1 million barrels during the week ending April 3, according to new data from the U.S. Energy Information Administration (EIA) released on Wednesday. The increase brings commercial stockpiles to 464.7 million barrels according to government data, which is 2% above the five-year average for this time of year. For total motor gasoline, the EIA reported that inventories had decreased by 1.6 million barrels after dipping by 600,000 barrels in the week prior. The most recent figures showed that average daily gasoline production decreased to 9.4 million barrels.
Published by HT Digital Content Services with permission from Capital Market....