US Oil Reserves Rise By 5.5 Mln Barrels Over Week Department Of Energy

(MENAFN- Trend News Agency)

Commercial oil reserves in the United States increased by 5.5 mln barrels over the week and reached 432 mln barrels as of August 5, the country's Department of Energy said, Trend reports citing TASS .

The department clarified that the current level of reserves is around 5% lower than the average for the past five years, typical for this time of year.

Meanwhile, the Department of Labor reported earlier that consumer prices in the US surged by 8.5% year-on-year as of the end of July, compared to 9.1% one month earlier. 'The all items index increased 8.5% for the 12 months ending July, a smaller figure than the 9.1-percent increase for the period ending June. The all items less food and energy index rose 5.9% over the last 12 months,' the statement said.

'The energy index increased 32.9% for the 12 months ending July, a smaller increase than the 41.6-percent increase for the period ending June. The food index increased 10.9% over the last year, the largest 12-month increase since the period ending May 1979,' the Department added.

The similar indicator in annual terms was 8.6% as of late May.


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