EIA: PADD 1 Gasoline, Jet Stocks Up; Distillates Fall


   
Miguel E. Andujar
DTN Refined Fuels Market Reporter

   DAVENPORT, FL (DTN) -- East Coast (PADD 1) inventories for gasoline and jet 
fuel increased in the week ending December 19, while distillate fuel stocks 
declined and crude oil inventories moved slightly lower, U.S. Energy 
Information Administration data released Monday (12/29) showed.

   The weekly petroleum status report was published later than usual due to the 
Christmas holiday.

   PADD 1 gasoline stocks rose by 1.1 million bbl to 53 million bbl in the 
reported week, compared with 56.7 million bbl in the same week last year. The 
build followed a smaller increase the prior week, marking the second 
consecutive weekly rise in East Coast gasoline inventories. Motor gasoline 
blending component stocks also increased, climbing to 50.8 million bbl, though 
remaining below the 54 million bbl held a year earlier.

   Despite the recent builds, gasoline inventories across the East Coast remain 
below levels from a year earlier, reflecting a comparatively tighter supply 
structure. That dynamic has kept prices supported even as retail values eased 
modestly, with East Coast (PADD 1) gasoline averaging $2.82 gallon in the week 
ended Dec. 22, down by 2.2cts on the week and standing 12.5cts below the same 
period last year.

   Regional distillate fuel oil inventories declined by 1.9 million bbl to 28.5 
million bbl, falling well below the 34.3 million bbl reported in the same week 
last year. The region held 27.3 million bbl of ultra-low sulfur diesel, 
compared with 32.9 million bbl a year earlier. The sizable draw extends the 
East Coast's tightening distillate balance as colder temperatures began to lift 
heating oil demand across the region. That tightening backdrop has helped keep 
diesel prices elevated despite a modest weekly decline, with East Coast (PADD 
1) retail diesel averaging $3.674 gallon in the week ended Dec. 22, down by 
2.9cts on the week but still 10.6cts higher than the same period last year.

   Jet fuel imports in PADD 1 rose by 500,000 bpd to 18,000 bpd, standing above 
the year-ago level of 14,000 bpd.

   Jet fuel inventories in PADD 1 increased by 500,000 bbl to 9.6 million bbl, 
compared with 10.3 million bbl in the same week last year. While the build 
provided some near-term relief, East Coast jet fuel stocks remain below levels 
from a year earlier following earlier seasonal draws.

   Crude oil inventories in PADD 1 edged lower by 400,000 bbl to 7.4 million 
bbl and remained below the 8.1 million bbl reported in the same week last year.

   PADD 1 crude imports rose by 73,000 bpd to 654,000 bpd versus the year-ago 
level of 862,000 bpd.

    




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