EIA: U.S. Crude Stocks Up 2.8M Bbl on Week, Fuels Rise Too


   
Barani Krishnan
DTN Refined Fuels Market Reporter

   SECAUCUS, NJ (DTN) -- U.S. commercial crude oil inventories rose during the 
week ended November 21, along with a rise in gasoline and distillate fuel oil 
stocks, the Energy Information Administration reported Wednesday (11/26).

   Commercial crude stocks rose by 2.8 million bbl to 426.9 million bbl, 
following the prior week's drop of 3.4 million bbl, the EIA said in its Weekly 
Petroleum Status Report.

   The EIA's latest weekly report on U.S. crude inventories put stockpiles at 
1.5 million bbl, or 0.4%, below levels from a year earlier.

   Stocks at Cushing, Oklahoma, the delivery point for NYMEX West Texas 
Intermediate futures, were unchanged at 21.8 million bbl in the reference 
period.

   Distillate oil inventories rose by 1.1 million bbl to 112.2 million bbl in 
the week ending November 21, following through with a 200,000 bbl growth in the 
prior week. Distillate stocks remain 2.5 million bbl below the same period last 
year, with most of the draw occurring in low-sulfur grades.

   Total motor gasoline inventories increased by 2.5 million bbl to 209.9 
million bbl in the profiled week, adding to the prior week's rise of 2.3 
million bbl drop the prior week. Blending components rose by 3.8 million bbl to 
196.8 million bbl, accounting for most of the increase, while conventional 
gasoline edged lower by 1.3 million bbl to 13.1 million bbl.

   Refinery utilization stood at 92.3% of capacity, up by 2.3% from the prior 
week. Crude runs averaged 16.4 million bpd, up by 200,000 bpd week-on-week.

   Crude exports averaged 3.598 million bpd, down by 560,000 bpd from the 
previous week, while crude imports rose by 1.046 million bpd to 2.838 million 
bpd.

   Total products supplied over the last four weeks averaged 20.24 million bpd, 
down by 231,000 bpd from the same period a year earlier. Gasoline demand 
averaged 8.726 million bpd last week, up by 2.6% year-on-year, while distillate 
demand averaged 3.362 million bpd, down by 9.5% year-on-year.




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