BB's Stock Haven

[barrels]

U.S. crude oil inventories posted another decline in the most recent week, according to government statistics released Wednesday. Gasoline inventories also recorded a notable drop, while stocks of distillates moved up.

The Department of Energy's Energy Information Administration revealed that crude oil inventories dropped 900,000 barrels for the week ended July 15, falling to 320.1 million barrels from the 321.0 million barrels recorded in the previous week.

The decline followed a 3.9-million-barrel drop recorded during the July 8 week and a 3.6-million-barrel decline recorded in the week prior to that. Oil inventories are now 6.6% higher than their levels of the same time last year.

Meanwhile, gasoline inventories posted a week-over-week decline of 1.3 million barrels. Stocks of distillate fuel oil advanced by 2.3 million barrels.