EIA: PADD 2 Crude to Product Inventories Up Across Board


   
Barani Krishnan
DTN Refined Fuels Market Reporter

   SECAUCUS, NJ (DTN) -- Midwest oil inventories rose across the board last 
week, with crude stocks leading the build and gasoline and distillate balances 
increasing evenly, the Energy Information Administration (EIA) reported 
Wednesday.

   Crude oil stocks grew by 800,000 bbl to 101.2 million bbl, the EIA's Weekly 
Petroleum Status Report for the week ended August 21 showed. That inventory 
level was still 2.5 million bbl lower than last year's level of 103.7 million 
bbl, the EIA data showed.

   Crude imports into the PADD 2 region decreased by 86,000 bpd on the week to 
average 2,579,000 bpd. This inbound crude oil volume was 168,000 bpd lower than 
the 2,747,000 bpd reported by the agency during the corresponding week last 
year.

   Distillate fuel oil inventories rose by 200,000 bbl -- similar to gasoline 
-- to reach 28.6 million bbl for the week. The build placed regional distillate 
inventories 500,000 bbl higher than the 28.1 million bbl logged during the 
corresponding week last year.

   Distillate imports into the Midwest averaged 4,000 bpd, down 12,000 bpd on 
the week but up by 1,000 bpd from the year-ago volume of 3,000 bpd.

   Jet fuel stocks rose by 100,000 bbl from the prior week to 8.1 million bbl, 
standing 600,000 bbl above the previous year's level of 7.5 million bbl. Weekly 
jet fuel imports into the region remained flat at zero bpd, matching both 
week-ago and year-ago levels.

   Refiner use of crude in the Midwest stood at 4.356 million bpd last week, 
versus 4.329 million the week prior and 4.133 million a year ago. The regional 
utilization rate rose to 101.8% versus the prior week's 101.2% and surpassed 
the year-ago level of 97.5%.




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