API says Crude, Refined Product Stocks Increased Last Week
9/20 3:39 PM
API says Crude, Refined Product Stocks Increased Last Week OAKHURST, N.J. (DTN) -- The American Petroleum Institute reported a smaller than expected build in commercial crude oil inventory during the week ended Sept. 16 while detailing a surprise increase in gasoline supply and bigger than expected build in distillate fuel inventory last week. API reported commercial crude oil stocks increased 1.035 million bbl compared with estimates for a 2.2 million bbl draw. Stocks at the Cushing, Oklahoma tank farm, the New York Mercantile Exchange delivery point for West Texas Intermediate futures, rose 510,000 bbl. Gasoline supply increased 3.22 million bbl in the week profiled, missing estimates for a 500,000 bbl decline. API reported distillate inventories rose 1.538 million bbl in the week ended Sept. 16, more than three times calls for a 500,000 bbl increase. (c) Copyright 2022 DTN, LLC. All rights reserved.