US commercial crude oil inventories rose 4.7 million barrels to 414.4 million barrels in the week ended Nov. 6, the Energy Information Administration said, an increase of 1.1% from the previous week.
Commercial stocks, which exclude the Strategic Petroleum Reserve, were still 13.2 million barrels below the same week a year earlier. That left inventories 3.1% below their year-earlier level despite the weekly increase.
The Strategic Petroleum Reserve, the government's emergency crude stockpile, fell 2.6 million barrels to 279.5 million barrels during the week. Its holdings declined 0.9% from the previous week and were down 130.9 million barrels, or 31.9%, from a year earlier.
Combined commercial and reserve crude inventories rose 2 million barrels, or 0.3%, to 694 million barrels. Total crude holdings were 144 million barrels below the year-earlier level, a decline of 17.2%.
Gasoline inventories increased 1.8 million barrels, or 0.9%, to 210.8 million barrels. Stocks were 5.7 million barrels higher than in the same week a year earlier, an increase of 2.8%.
Distillate fuel oil inventories rose 4.1 million barrels to 103.3 million barrels, a weekly increase of 4.1%. They remained 7.6 million barrels, or 6.8%, below their year-earlier level.
Domestic crude production reached 14.01 million barrels a day, compared with 14 million the previous week. Production stood at 13.86 million barrels a day in the same week a year earlier.
Refineries processed 17.05 million barrels of crude a day, up from 16.73 million the previous week. Crude input stood at 15.97 million barrels a day a year earlier.
Net imports, including those for the reserve, reached 3.24 million barrels a day. That compared with 2.7 million the previous week and 2.41 million in the same week a year earlier.
Daily crude spot prices fell from their levels one week earlier on Nov. 3, according to figures supplied via the Federal Reserve Bank of St. Louis's FRED database. West Texas Intermediate at Cushing was $99.64 a barrel, compared with $103.37 one week earlier.
Brent's European daily spot price was $107.03 a barrel on Nov. 3, compared with $123.10 one week earlier.
Jet fuel stocks rose 0.2 million barrels to 42 million barrels. Propane and propylene inventories increased 0.1 million barrels to 104.2 million barrels.
Total petroleum inventories, including the reserve, rose 8.7 million barrels, or 0.6%, to 1.5 billion barrels. They were down 187 million barrels, or 11.1%, from a year earlier.
