EIA: Crude Stocks Up 1.9M on Wk; Gasoline, Distillates DN
4/22 10:40 AM
EIA: Crude Stocks Up 1.9M on Wk; Gasoline, Distillates DN
Barani Krishnan
DTN Refined Fuels Market Reporter
SECAUCUS, NJ (DTN) -- U.S. commercial crude oil stocks rose last week as
refinery activity declined further, while gasoline and distillate fuel
inventories continued to draw down, Energy Information Administration (EIA)
data for the week ended April 17 released on Wednesday (4/22) showed.
Crude stocks increased by 1.9 million bbl to 465.7 million bbl during the
week profiled. The current inventory level remains approximately 5.1% above
year-ago levels.
Crude oil imports averaged 6.078 million bpd in the profiled week, an
increase of 787,000 bpd from the previous week. Over the past four weeks, crude
imports averaged 6.037 million bpd, down 0.4% from the same period last year.
Total motor gasoline inventories fell by 4.6 million bbl last week to 228.4
million bbl. On an annual level, gasoline stocks were down 0.5%.
Distillate fuel balances fell by 3.4 million bbl to 108.1 million bbl,
slightly exceeding the previous week's decline. For the year, distillate stocks
were up 1.2%.
Jet fuel stocks rose 1.2 million bbl to 43.7 million bbl for the week,
snapping two consecutive weeks of drawdowns. Annualized, jet fuel inventories
were 10.3% higher. Refinery utilization decreased to 89.1% last week from 89.6%
of operable capacity reported the prior week. Crude oil input into refineries
averaged 15.987 million bpd during the week ended April 17, down by 55,000 bpd
from the previous week's average.
Total products supplied over the last four weeks averaged 20.5 million bpd,
up 3.0% from the same period a year earlier. Gasoline demand averaged 8.8
million bpd, up 1.7% from the same period last year, while distillate demand
averaged 3.99 million bpd, higher by 3.4% year-over-year.
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