EIA: U.S. Crude Stocks Up 6.4M Bbl on Week, Fuels Down


   
Barani Krishnan
DTN Refined Fuels Market Reporter

   SECAUCUS, NJ (DTN) -- U.S. commercial crude oil inventories rose during the 
week ended November 7, while gasoline and distillate fuel oil stocks declined, 
the Energy Information Administration reported Thursday (11/13).

   Commercial crude stocks increased by 6.4 million bbl to 427.6 million bbl, 
following the prior week's build of 5.2 million bbl, the EIA said in its Weekly 
Petroleum Status Report, whose publication was delayed by a day due to 
Tuesday's Veterans Day holiday.

   The EIA's latest weekly report on U.S. crude inventories put stockpiles at 
2.2 million bbl, or 0.5%, below year-ago levels.

   Stocks at Cushing, Oklahoma, the delivery point for NYMEX West Texas 
Intermediate futures, retreated by 400,000 bbl to 22.5 million bbl in the 
reference period, after the prior weekly build of 300,000 bbl.

   Distillate fuel oil inventories fell by 600,000 bbl to 110.9 million bbl  in 
the week ending November 7, after posting a similar volume of decline the week 
before. Stocks are now 4.3 million bbl below the same period last year, with 
most of the draw occurring in low-sulfur grades.

   Total motor gasoline inventories fell by 900,000 bbl to 205.1 million bbl in 
the profiled week, following a 4.7 million bbl slump in the prior week. 
Blending components accounted for most of the decrease, dropping by 1.2 million 
bbl to 190.2 million bbl, while conventional gasoline edged up by 200,000 bbl 
to 14.8 million bbl.

   Refinery utilization stood at 89.4%  of capacity, up 3.4 percentage points 
from the prior week. Crude runs averaged 15.26 million bpd, up 740,000 bpd 
week-on-week.

   Crude exports averaged 2.8 million bpd, down 1.6 million bpd from the 
previous week, while crude imports fell by 702,000 bpd to 5.2 million bpd.

   Total products supplied over the last four weeks averaged 20.77 million bpd, 
down 813,000 bpd from the same period a year ago. Gasoline demand averaged 
9.028 million bpd last week, down 3.8% year-on-year while distillate demand 
averaged 4 million bpd, down 2% year-on-year.




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