Quarterly report pursuant to Section 13 or 15(d)

Inventories

v3.7.0.1
Inventories
6 Months Ended
Jun. 30, 2017
Inventory Disclosure [Abstract]  
Inventory Disclosure
Inventories
Carrying value of inventories consisted of the following:
 
June 30,
2017
 
December 31,
2016
Crude oil, refined products and blendstocks
$
25,083

 
$
36,259

Crude oil consignment inventory (Note 5)
779

 
1,850

Materials and supplies
11,205

 
11,573

Total inventories
$
37,067

 
$
49,682


At June 30, 2017 and December 31, 2016, the market value of our refined products and blendstock inventories was less than inventories valued on a LIFO cost basis which resulted in a lower of cost or market reserve of $7,477 and $6,213, respectively. At June 30, 2017 and December 31, 2016, the market value of our crude oil inventories exceeded LIFO costs, net of the fair value hedged item, by $2,930 and $5,236, respectively.