EIA: Gasoline, Distillates Stocks Hit 3-Month Low
Maria Eugenia Garcia
DTN Energy Editor
HOUSTON, TX (DTN) -- U.S. West Coast (PADD 5) gasoline and distillates
inventories fell to their lowest level in three months, while jet fuel
stockpiles rose during the week ended August 28, the U.S. Energy Information
Administration (EIA) reported Wednesday (9/2).
For a third straight week, motor gasoline stocks in the PADD 5 region
dropped by 400,000 bbl to 27.2 million bbl during the referenced week, the
EIA's Weekly Petroleum Status Report showed. This was the lowest level hit in
three months. Year-over-year, the same product inventory was below the 30.2
million bbl reported during the same week last year.
PADD 5 gasoline imports fell by 69,000 bpd to 22,000 bpd compared to the
prior week, and they were also below the 87,000 bpd recorded a year earlier.
Regional distillate fuel stockpiles fell by 700,000 bbl to 9.9 million bbl
from the prior week, the lowest in over three months, and were well below the
11.7 million bbl reported for the same week of a year earlier. Distillate
imports in the same region rose by 16,000 bpd to 42,000 bpd on the week, and
were sharply above the 7,000 bpd imported a year earlier.
Jet fuel stocks in PADD 5 rose by 300,000 bbl to 11.4 million bbl, for the
third consecutive week after hitting seven-week consecutive declines, and were
slightly higher than the previous year's level of 11.3 million bbl. Jet fuel
imports in PADD 5 rose to 66,000 bpd from 14,000 bpd on a weekly basis and were
above the 45,000 bpd reported year-over-year.
Crude oil inventories in PADD 5 rose by 2.4 million bbl to 47.7 million bbl
during the week profiled above the 45.6 million bbl reported for the same week
last year. Crude imports rebounded to 1.144 million bpd from 826,000 bpd last
week; however, they were below the 1.468 million bpd recorded a year earlier.
PADD 5 refinery utilization dropped to 92.8% from 93.7% the previous week,
EIA data showed.
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