Inventories

Inventories at June 30, 2017 consisted of the following (in thousands):



	Titled Inventory		Supply and Offtake Agreements (1)		Total
Crude oil and feedstocks	$	59,430	$	84,122	$	143,552
Refined products and blendstock	39,299		103,378		142,677
Warehouse stock and other	20,973		—		20,973
Total	$	119,702	$	187,500	$	307,202

Inventories at December 31, 2016 consisted of the following (in thousands):



	Titled Inventory		Supply and Offtake Agreements(1)		Total
Crude oil and feedstocks	$	11,620	$	49,682	$	61,302
Refined products and blendstock	38,916		77,677		116,593
Warehouse stock and other	20,431		—		20,431
Total	$	70,967	$	127,359	$	198,326

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(1)	Please read Note 7—Inventory Financing Agreements for further information.

The reserve for the lower of cost or net realizable value of inventory was $8.6 million and $0.2 million as of June 30, 2017 and December 31, 2016, respectively.