Sources: API says Crude Stocks Fell Last WK, Distillate Up
OAKHURST, N.J. (DTN) --- The American Petroleum Institute reported a draw in
domestic crude supplies in the week ended Aug. 16 while detailing a decline in
gasoline supply and surprise build in distillate stocks.
API reported crude supplies dropped 3.454 million bbl in the week profiled,
negating most of the 3.7 million bbl build reported the prior week.
API data showed crude supply at the Cushing supply hub in Oklahoma, the
physical delivery location for the New York Mercantile Exchange West Texas
Intermediate futures contract, fell 2.803 million bbl last week.
Trade sources said API reported gasoline inventories declined 403,000 bbl
while distillate inventories increased 1.806 million bbl.
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