Crude oil inventories rise

U.S. crude oil inventories rose substantially in the week that ended Friday, the U.S. Energy Information Administration said. The agency said crude oil inventories rose by 4.2 million barrels to 344.9 million barrels in the latest report. Supplies are in the upper limit for the average range for this time of year, the agency said. Supplies of distillate fuels -- which include home heating oil -- fell by 2.1 million barrels in the week to 141.4 million barrels and are in the middle of the average range for this time of year, the EIA said. Gasoline inventories dropped 1.6 million barrels to 229.9 million barrels and are in the upper limit of the average range for this time of year. Inventories of finished gasoline rose and blending components fell, the agency said. The EIA said the national average price of regular gasoline increased for the fifth consecutive week, climbing by 13 cents in the week to $3.721 per gallon, 33.8 cents above the same week a year earlier.