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Inventories | 12 Months Ended
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Dec. 31, 2018
Inventories |
Inventories | 14. INVENTORIES
($ millions) |  | December 31 2018 |  | December 31 2017 |
Crude oil |  | 1 177 |  | 1 203 |
Refined products |  | 1 033 |  | 1 268 |
Materials, supplies and merchandise |  | 702 |  | 664 |
Energy trading commodity inventories |  | 247 |  | 333 |
|  | 3 159 |  | 3 468 |
During 2018, product inventories of $14.8 billion (2017 – $11.6 billion) were recorded as an expense. There was no write-down of crude oil (2017 – nil) and no write-down of materials, supplies and merchandise in 2018 (2017 – nil million). Energy trading commodity inventories are measured at fair value less costs of disposal based on Level 1 and Level 2 fair value inputs.

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