Crude oil supplies up by 3.1 million barrels

The Government has informed that the supplies of crude oil and gasoline have risen extraordinarily last week.

Crude inventories have risen from 331.4 million barrels to 334.5 million barrels. These 3.1 million barrels of boost is almost 0.9% increase on the previous figure. In its weekly report, the Energy Department's Energy Information Administration has informed that a year ago it was 5.4% below the current output.

Similarly, gasoline inventories have risen by 1.7 million barrels from 230.4 million barrels to 232.1 million barrels. This was almost a rise of 0.7%. At the same time a year earlier it was 7% behind.

But the inventories of distillate fuel including diesel and heating oil have fallen by 2.9 million barrels from 156.2 million barrels to 153.3 million barrels last week.

Analysts have expected that the capacity of U. S. refineries will upright to 79.38% on average. But with a rise of 0.7% from previous week it has touched 79.8% on an average.

Meanwhile crude prices have risen 82 cents. In the New York Mercantile Exchange it was sold at $78.15 per barrel.