WASHINGTON (dpa-AFX) - The Energy Information Administration released a report on Wednesday showing a substantial rebound by U.S. crude oil inventories in the week ended February 20th.
The report said crude oil inventories spiked by 16.0 million barrels last week after tumbling by 9.0 million barrels in the previous week.
At 435.8 million barrels, U.S. crude oil inventories remain about 3 percent below the five-year average for this time of year, the EIA said.
The EIA said distillate fuel inventories, which include heating oil and diesel, also crept up by 0.3 million barrels last week but remain about 5 percent below the five-year average for this time of year.
Meanwhile, the report said gasoline inventories decreased by 1.0 million barrels last week but are still 3 percent above the five-year average for this time of year.
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