Government report says U.S. crude stocks fall by 0.6%; stocks of home heating oil up 0.4%.
August 25, 2004: 10:47 AM EDT
NEW YORK (CNN/Money) - U.S. inventories of crude oil fell but stocks of distillate fuels -- the basis of home heating oil -- rose, according to a government report released Wednesday.
The Energy Information Administration reported a 1.7 million barrel drop in crude stocks for the week ended Aug. 20, excluding the Strategic Petroleum Reserve. The 291.3 million barrels reported this week represents a 0.6 percent decline from the previous week's 293 million barrels, although stocks are still up 3.4 percent from a year ago.
Stocks of distillate fuel rose by 500,000 barrels, or 0.4 percent, to 125.1 million barrels over last week's 124.6 million barrels.
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