API: Crude Stocks Down 4.47M Bbl, Snapping 7-Week Rise


   
Barani Krishnan
DTN Refined Fuels Market Reporter

   SECAUCUS, NJ (DTN) -- The American Petroleum Institute (API) has cited a 
4.47 million bbl decline in commercial crude stocks for last week, after a 
prior seven-week build that led to an accumulation of more than 40 million bbl, 
energy market participants who saw the latest API data told DTN on Tuesday 
(4/21).

   Despite the overall decline in crude stocks during the week ended April 17, 
the Cushing, Oklahoma delivery point for NYMEX WTI futures, saw a rise of 
678,000 bbl last week. In the prior week ended April 10, Cushing saw a slide of 
1.7 million bbl.

   Gasoline inventories fell by 5.165 million bbl last week, after a 
626,000-bbl rise from the week before.

   Distillate fuel supply slumped by 4.59 million bbl, deepening the previous 
week's decline of 3.4 million bbl.




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