EIA: U.S. Crude Stocks DN 3.4M Bbl on Week, Fuels Up


   
Barani Krishnan
DTN Refined Fuels Market Reporter

   SECAUCUS, NJ (DTN) -- U.S. commercial crude oil inventories fell during the 
week ended November 14, while gasoline and distillate fuel oil stocks rose, the 
Energy Information Administration reported Wednesday (11/19).

   Commercial crude stocks declined by 3.4 million bbl to 424.2 million bbl, 
following the prior week's build of 6.4 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 
6.1 million bbl, or 1.4%, below levels from a year earlier.

   Stocks at Cushing, Oklahoma, the delivery point for NYMEX West Texas 
Intermediate futures, retreated by 700,000 bbl to 21.8 million bbl in the 
reference period, after the prior weekly drop of 400,000 bbl.

   Distillate oil inventories rose by 200,000 bbl to 111.1 million bbl in the 
week ending November 14, after a 600,000 bbl decline in the prior week. 
Distillate stocks are now 3.2 million bbl below the same period last year, with 
most of the draw occurring in low-sulfur grades.

   Total motor gasoline inventories increased by 2.3 million bbl to 207.4 
million bbl in the profiled week, following a 900,000-bbl drop the prior week. 
Blending components rose by 2.8 million bbl to 193 million bbl, accounting for 
most of the increase, while conventional gasoline edged lower by 400,000 bbl to 
14.4 million bbl.

   Refinery utilization stood at 90% of capacity, up by 0.6% from the prior 
week. Crude runs averaged 16.2 million bpd, up by 258,000 bpd week-on-week.

   Crude exports averaged 4.158 million bpd, up by 1.342 million bpd from the 
previous week, while crude imports rose by 729,000 bpd to 5.95 million bpd.

   Total products supplied over the last four weeks averaged 20.16 million bpd, 
up by 386,000 bpd from the same period a year earlier. Gasoline demand averaged 
8.528 million bpd last week, up by 1.3% year-on-year, while distillate demand 
averaged 3.88 million bpd, higher by 2.8% year-on-year.

    




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