The U.S. Energy Information Administration (EIA) released its weekly petroleum status report Wednesday morning. U.S. commercial crude inventories increased by 6.3 million barrels last week, maintaining a total U.S. commercial crude inventory of 413.1 million barrels, the fourth consecutive week of a higher total than at any time in at least 80 years.

Total gasoline inventories increased by 2.3 million barrels last week and remain well above the upper limit of the five-year average range. Total motor gasoline supplied (the EIA’s measure of consumption) averaged 8.8 million barrels a day for the past four weeks, up by 6.3% compared with the same period a year ago.

Distillate inventories increased by 1.8 million barrels last week and have moved into the middle of the average range. Distillate product supplied averaged 4.2 million barrels a day over the past four weeks, up by 4.7% when compared with the same period last year. Distillate production averaged 4.7 million barrels a day last week, about the same as the prior week’s production.

Tuesday evening the American Petroleum Institute (API) reported that crude inventories rose by 6.1 million barrels, gasoline stockpiles had risen by 2 million barrels and distillate stocks rose by 278,000 barrels in the week ending January 30. For the same period, analysts had estimated an increase of 3.1 million barrels in crude inventories and a rise of 3.5 million barrels in gasoline stockpiles.

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Before the EIA report, West Texas Intermediate (WTI) crude for March delivery was trading down about 4% at around $51.00 a barrel Wednesday morning. The WTI price fell further to around $50.25 (down about 5.3% for the day) immediately after the report was released. The 52-week range on WTI futures is $43.58 to $100.52.

For the past week, crude imports averaged 7.4 million barrels a day, down by 34,000 barrels a day from in the previous week. Refineries were running at 89.9% of capacity, with daily input of more than 15.5 million barrels, about 288,000 barrels a day above the previous week’s average.

Crude prices have risen sharply in the past three trading days, following steep drops in the number of rigs working in the United States. As U.S. refineries enter their planned maintenance period, prices for crude could fall slightly as demand falls, while gasoline prices could rise as the supply dwindles. This is a seasonal pattern leading up to the summer driving season, when demand typically rises and so do pump prices.

According to AAA, the current national average pump price per gallon of regular gasoline is $2.111, up from $2.038 a week ago but down from $2.209 a month ago. Last year a gallon of regular cost $3.274 on average in the United States. The weekly price drops have ended for now, and prices have turned back upward.

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Here is a look at how share prices for two exchange traded funds reacted to the latest report.

The United States Oil ETF (NYSEMKT: USO) traded down about 3.8%, at $18.88 in a 52-week range of $16.30 to $39.44.

The Market Vectors Oil Services ETF (NYSEMKT: OIH) also traded down, nearly 2% to $35.14, in a 52-week range of $31.63 to $58.01.

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