API: U.S. Crude Draw Deepens; Gasoline, Distillates Build


   
Miguel E. Andujar
DTN Refined Fuels Market Reporter

   DAVENPORT, FL (DTN) -- U.S. crude oil inventories declined sharply last 
week, marking a second consecutive weekly draw, while gasoline and distillate 
stockpiles increased, according to American Petroleum Institute (API) data 
released late Tuesday (12/16).

   U.S. commercial crude oil stocks fell by 9.3 million bbl during the week, 
according to API data. The draw extends the prior week's decline of 4.8 million 
bbl reported by API.

   The crude draw for the profiled week accompanied a 510,000 bbl decline at 
the Cushing, Oklahoma, delivery point for NYMEX West Texas Intermediate 
futures, following a 890,000 bbl draw the previous week.

   Gasoline inventories rose by 4.8 million bbl, following a 7 million bbl 
build in the prior week.

   Distillate fuel oil stocks increased by 2.5 million bbl, after a 1 million 
bbl rise the previous week.




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