API: Crude Stocks Up 10.3M Bbl, Rise 5th Week in Row


   
Barani Krishnan
DTN Refined Fuels Market Reporter

   SECAUCUS, NJ (DTN) -- The American Petroleum Institute (API) has cited a 
fifth consecutive weekly build in commercial crude oil stocks in its reading 
for the week ended March 27, energy market participants with access to the data 
told DTN on Tuesday (3/31).

   For the week in review, API reported that commercial crude oil stocks rose 
by 10.3 million bbl, according to the traders who saw the data. That extended a 
string of prior builds that included increases of 2.3 million bbl, 6.556 
million bbl, 5.6 million bbl and 11.4 million bbl over four prior weeks.

   At the Cushing, Oklahoma delivery point for NYMEX WTI futures, crude 
inventories climbed by 800,000 bbl last week, according to the data.

   Gasoline inventories fell by 3.2 million bbl, following a 500,000 bbl build 
reported the previous week.

   Distillate fuel supply slid by 1 million bbl after an increase of 1.4 
million bbl in the prior reporting period.

    




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