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U.S. crude oil, refined fuel reserves decline last week
www.chinaview.cn 2007-03-08 08:07:40
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    WASHINGTON, March 7 (Xinhua) -- U.S. commercial crude oil inventories and reserves of refined products fell across the boardlast week, the Energy Department reported Wednesday in its weekly survey.

    In the week ending March 2, the country's commercial crude oil inventories plunged 4.8 million barrels to 324.2 million, still above the upper end of the average range for this time of year.

    The drop was defying analysts who had expected a rise of 1.8 million barrels for the crude oil reserves.

    The survey also found that gasoline reserves decreased by 3.8 million barrels last week to 216.4 million. The drop was more thandouble the 1.5-million-barrel fall predicted by analysts.

    Meanwhile, supplies of distillates, including heating oil and diesel, declined 1.3 million barrels to 123.2 million, just below the upper end of the average range for this time of year. The fallwas less than the drop of 2.75 million barrels analysts were forecasting.

    The figures for commercial crude oil inventories do not includethe U.S. Strategic Petroleum Reserve, which currently holds crude oil of about 6.89 million barrels.

 

Editor: Yan Liang
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