EIA: U.S. Crude Stocks Up 5.2M Bbl W-o-W; Fuel Down


   
Barani Krishnan
DTN Refined Fuels Market Reporter

   SECAUCUS, NJ (DTN) -- U.S. commercial crude oil inventories rose during the 
week ended October 31, snapping two straight weeks of declines, while gasoline 
and distillate fuel oil stocks fell, the Energy Information Administration 
reported Wednesday (11/05).

   Commercial crude stocks increased by 5.2 million bbl to 421.2 million bbl, 
following the prior week's 6.8 million bbl drop. Inventories are now 6.5 
million bbl, or 1.5%, below levels last year.

   Stocks at Cushing, Oklahoma, the delivery point for NYMEX West Texas 
Intermediate futures, rose by 300,000 bbl to 22.9 million, marking the second 
build in six weeks.

   Distillate fuel oil inventories declined by 600,000 bbl to 111.5 million 
bbl, after posting a 3.4 million bbl draw the prior week. Stocks are now 4.3 
million bbl below the same period last year, with most of the draw occurring in 
low-sulfur grades.

   Total motor gasoline inventories fell by 4.7 million bbl to 206 million bbl, 
following a 6-million bbl decline the prior week. Blending components accounted 
for most of the decrease, dropping by 4.1 million bbl to 191.4 million bbl, 
while conventional gasoline edged up by 600,000 bbl to 14.6 million bbl.

   Refinery utilization stood at 86% of capacity, down 0.6 percentage points 
from the prior week. Crude runs averaged 15.26 million bpd, up 37,000 bpd 
week-on-week.

   Crude exports averaged 4.367 million bpd, up 6,000 bpd from the previous 
week, while crude imports rose by 873,000 bpd to 5.924 million bpd.

   Total products supplied over the last four weeks averaged 20.344 million 
bpd, down 237,000 bpd from the same period a year ago. Gasoline demand averaged 
8.874 million bpd last week, up 0.5% year-on-year, while distillate demand 
averaged 3.71 million bpd, up by 8.9% year-on-year.

    




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