API: U.S. Crude Down Last Week, Gasoline, Distillates Up


   
Barani Krishnan
DTN Refined Fuels Market Reporter

   SECAUCUS, NJ (DTN) -- U.S. crude oil inventories fell last week for the 
first time in four weeks while stockpiles of gasoline and distillates rose, 
according to American Petroleum Institute (API) data released late Tuesday 
(11/25). 

   U.S. commercial crude oil stocks decreased 1.9 million bbl during the week 
ended November 21, according to API data. The decline follows three prior 
weekly builds of 4.4 million bbl, 1.3 million bbl and 6.5 million bbl reported 
by API.

   The crude deficit for the profiled week coincided with a 300,000 bbl drop at 
the Cushing, Oklahoma delivery point for NYMEX West Texas Intermediate futures. 
The Cushing hub saw an 800,000 bbl decline the previous week.

   Gasoline inventories rose by 500,000 bbl, following a 1.5 million bbl draw 
the prior week.

   Distillate fuel oil stocks surged by 800,000 bbl, after the previous weekly 
rise of 600,000 bbl.




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