EIA: PADD 2 Gasoline, Distillates Build on Week; Jet Drops


   
Barani Krishnan
DTN Refined Fuels Market Reporter

   SECAUCUS, NJ (DTN) -- Midwest gasoline and distillate fuel stocks rose last 
week, while crude oil and jet fuel balances fell, the Energy Information 
Administration (EIA) reported Wednesday (7/8), citing data for the week ended 
July 3.

   Motor gasoline inventories in the PADD 2 region built by 400,000 bbl on the 
week to 44.3 million bbl, according to the EIA's Weekly Petroleum Status 
Report. On the year, PADD 2 gasoline stocks were down by 1.8 million bbl from 
the 46.1 million bbl level seen during the corresponding week last year.

   Weekly imports of gasoline into the Midwest region rose by 2,000 bpd on the 
week to average 16,000 bpd during the current reporting period. This inbound 
volume remained unchanged from the year-ago level of 16,000 bpd recorded during 
the corresponding week last year.

   Distillate fuel oil inventories in the PADD 2 region rose by 500,000 bbl on 
the week to reach a total of 28.3 million bbl. That build placed regional 
distillate inventories at 3.7 million bbl higher than the 24.6 million bbl 
logged during the corresponding week last year. Distillate imports into the 
region averaged 3,000 bpd, down by 18,000 bpd on the week and falling by 4,000 
bpd from the year-ago period.

   Jet fuel stocks fell by 600,000 bbl from the prior week to 6.9 million bbl, 
standing 800,000 bbl above the previous year's level. Inbound jet fuel 
shipments to the Midwest remained at zero, representing an unchanged status on 
both the week and the year under current reviews.

   Crude oil inventories decreased by 200,000 bbl on the week to 97.9 million 
bbl, which is 4.7 million bbl lower than last year. Crude imports into the PADD 
2 region increased by 308,000 bpd on the week to average 2,962,000 bpd, 
according to latest data. This inbound crude oil volume remains 125,000 bpd 
higher than the 2,837,000 bpd reported by the agency during the corresponding 
week last year.

   Refiner use of crude in the Midwest stood at 4.280 million bpd for last 
week, versus 4.258 million the week prior and 4.168 million a year ago. The 
rate of utilization rose to 100.3% versus the prior week's 99.8% and the 
year-ago level of 98.3%.




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