API reports Larger than Expected Gasoline Inventory Draw


   
    

   OAKHURST, N.J. (DTN) --- The American Petroleum Institute reported a 
larger-than-expected draw from gasoline stocks during the week ended April 12 
while detailing a better-than-expected build in commercial crude oil inventory.

   API reports gasoline inventory dropped 2.51 million bbl last week versus an 
expected 1.0 million bbl draw. Distillate fuel stockpiles decreased 427,000 bbl 
compared with calls for a 400,000 bbl decline.

   API reports commercial crude oil stocks increased 4.09 million in the week 
ended April 12, more than six times calls for an increase of 600,000 bbl. At 
the Cushing, Oklahoma tank farm, the New York Mercantile Exchange delivery 
point for West Texas Intermediate futures, supply declined 169,000 bbl.




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