EIA: Crude Stocks Up After 2-Wk Drop; Gasoline Builds Too


   
Barani Krishnan
DTN Refined Fuels Market Reporter

   SECAUCUS, NJ (DTN) -- U.S. commercial crude oil inventories rose last week 
for the first time in three weeks and gasoline inventories continued to expand, 
while distillate fuel oil stocks slipped, the Energy Information Administration 
(EIA) reported Wednesday (1/14).

   Commercial crude stocks increased by 3.3 million bbl to 422.4 million during 
the week ended January 9, snapping back-to-back declines of 3.8 million and 1.9 
million over the prior two weeks, the EIA said in its Weekly Petroleum Status 
Report.

   With the weekly build, U.S. crude inventories stood 9.8 million bbl, or 
2.4%, higher than levels a year ago, the report showed.

   Crude stockpiles at the Cushing, Oklahoma delivery point for NYMEX West 
Texas Intermediate futures, climbed by 800,000 bbl to 23.6 million after the 
prior week's addition of 700,000 bbl.

   Total motor gasoline inventories increased by 9 million bbl to 251 million 
during the reference week, adding to the prior week's surplus of 7.7 million.

   Blending components rose by 9 million bbl to 226.3 million, accounting for 
most of the increase, while conventional gasoline stocks slipped by 100,000 bbl 
to 15.7 million.

   Distillate fuel oil inventories slid by 100,000 bbl to 129.2 million, after 
the previous week's outsized gain of 5.6 million bbl.

   Refinery utilization rose to 95.3% of operable capacity, from a prior 94.7%. 
Crude oil inputs into refineries averaged 16.96 million bpd, up fractionally 
from the previous week's 16.9 million.

   Crude oil exports averaged 4.32 million bpd, up by 43,000 bpd from the 
previous week, while crude imports rose by 753,00 bpd to 7.092 million bpd.

   Total products supplied over the last four weeks averaged 19.98 million bpd, 
down 1.1% from the same period a year earlier. Gasoline demand last week 
averaged 8.3 million bpd, lower by 0.2% from a year earlier, while distillate 
demand averaged 4.1 million bpd, up by 6.7% from the same period last year.




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