US Distillate Stocks Continue to Fall As Crude Inventories Build
Gasoline stocks rose 2.991 million barrels, while distillate inventories fell 286,000 barrels and remained well below the five-year average, API data showed.
- The Energy Information Administration reported on Wednesday that commercial crude inventories rose by 900,000 barrels, bringing total supplies to 427.3 million barrels and defying analyst expectations of a 1.9 million barrel draw.
- Preliminary data from the American Petroleum Institute indicated an inventory build of 1.02 million barrels on Tuesday, preceding the official EIA release by one day.
- Gasoline inventories rose 2.991 million barrels while distillate stocks fell 2.3 million barrels; notably, distillate supplies now sit 14% below their five-year average level.
- Crude futures markets responded with mixed signals as Brent traded at $103.34 per barrel, up 0.73% on the session, while West Texas Intermediate traded down at $88.96 per barrel.
- Commercial crude inventories excluding the SPR have lost 38 million barrels over 24 weeks, while the SPR holds 283.8 million barrels—430 million barrels shy of maximum operational capacity.
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14 Articles
The EIA shows an unexpected increase due to the slow pace of the refineries, while Washington continues to take crude oil out of the Strategic Reserve, as early as 1982, and the Gulf re-exports more oil.
U.S. oil stocks rose by 922,000 barrels, to 427,320 million, in the week closed last Friday (25), reported the country's Department of Energy (DoE) on Wednesday (30). The result contradicted the average estimate of analysts consulted by The Wall Street Journal, which was down by 200 thousand. Already the gasoline stocks fell by 1,684 million barrels, last week, to 204,362 million, ahead of high expectations of 300 thousand. Distillates stocks fe…
The U.S. crude oil inventory grew 900,000 barrels, exceeding expectations of falling due to a decline in refinery activity.From the Strategic Reserve, 800,000 barrels were released to mitigate the impact of conflicts in the Middle East on supply.
Oil Hits Session High After DOE Shows Lowest Midwest Gasoline Stocks On Record
Oil Hits Session High After DOE Shows Lowest Midwest Gasoline Stocks On Record Oil prices rose to session highs after today's DOE inventory data refuted the latest cheerful API prints from Tuesday afternoon. Instead of the API-reported builds in distillates and gasoline, the DOE said that in the last week both products drew, with a modest increase in Cushing inventories, while crude inventories rose by 922K API Crude +1.0mm Gasoline +3.0…
US Distillate Stocks Continue to Fall As Crude Inventories Build
The American Petroleum Institute (API) estimated that crude oil inventories in the United States rose by 1.019 million barrels in the week ending September 25. Analysts had expected a 1.9 million barrel draw. In the week prior, US crude oil inventories grew by 1.786 million barrels. Commercial crude oil inventories excluding the SPR have lost 38 million barrels over the last 24 weeks, but US crude inventories are up nearly 13 million for the yea…
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