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Crude Inventory Data Shows Surprise 2.2M Barrel Draw

Summary of Weekly Petroleum Data for the Week Ending May 4, 2018

U.S. crude oil refinery inputs averaged about 16.5 million barrels per day during the week ending May 4, 2018, 75,000 barrels per day less than the previous week’s average.

Refineries operated at 90.4% of their operable capacity last week. Gasoline production decreased last week, averaging over 9.9 million barrels per day. Distillate fuel production remained virtually unchanged last week, averaging 5.0 million barrels per day.

U.S. crude oil imports averaged over 7.3 million barrels per day last week, down by 1,226 thousand barrels per day from the previous week. Over the last four weeks, crude oil imports averaged about 8.1 million barrels per day, 1.0% less than the same four-week period last year. Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 803,000 barrels per day. Distillate fuel imports averaged 128,000 barrels per day last week.

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 2.2 million barrels from the previous week. At 433.8 million barrels, U.S. crude oil inventories are in the lower half of the average range for this time of year. Total motor gasoline inventories decreased by 2.2 million barrels last week, and are in the upper half of the average range. Both finished gasoline inventories and blending components inventories decreased last week. Distillate fuel inventories decreased by 3.8 million barrels last week and are in the lower half of the average range for this time of year.

Propane/propylene inventories increased by 2.3 million barrels last week, and are in the lower half of the average range. Total commercial petroleum inventories decreased by 1.5 million barrels last week.

Total products supplied over the last four-week period averaged about 20.3 million barrels per day, up by 2.7% from the same period last year. Over the last four weeks, motor gasoline product supplied averaged about 9.5 million barrels per day, up by 2.2% from the same period last year.

Distillate fuel product supplied averaged over 4.2 million barrels per day over the last four weeks, up by 4.1% from the same period last year. Jet fuel product supplied is down 1.5% compared to the same four-week period last year.

Information Source: U.S. Energy Information Administration

U.S. crude stockpiles surge to highest level this year - Weekly Petroleum Status Report - EIA

EIA: U.S. Crude Stocks Post Surprise Build of 6M Barrels

U.S. crude stocks rose last week as refineries cut output, while gasoline stocks increased and distillate inventories fell, the Energy Information Administration said on Wednesday.

Crude inventories rose by 6.2 million barrels in the week to April 27, compared with expectations for an increase of 739,000 barrels.

Crude stocks at the Cushing, Oklahoma, delivery hub rose by 416,000 barrels, EIA said. Refinery crude runs fell by 60,000 barrels per day, EIA data showed. Refinery utilization rates rose by 0.3 percentage points.

Gasoline stocks rose 1.2 million barrels, compared with analysts’ expectations in a Reuters poll for a 587,000-barrel drop.

Distillate stockpiles, which include diesel and heating oil, fell by 3.9 million barrels, versus expectations for a 1.4 million-barrel drop, the EIA data showed.

Net U.S. crude imports rose last week by 263,000 barrels per day.

Source

Oil prices slip as weekly U.S. crude supply jumps on Wednesday, March 14

Oil Prices Moved slightly Lower as Weekly U.S. Crude Supply Jumps

Oil prices moved slightly lower Wednesday after the U.S. Energy Information Administration said crude supplies rose by 5 million barrels for the week ended March 9. Analysts surveyed by S&P Global Platts had forecast a climb of 2.5 million barrels, while the American Petroleum Institute on Tuesday reported a rise of nearly 1.2 million barrels, according to sources.

Gasoline stockpiles, however, dropped 6.3 million barrels for the week, while distillate stockpiles lost 4.4 million barrels, according to the EIA.

The S&P Global Platts survey forecast supply declines of 500,000 barrels for gasoline and 1.6 million barrels for distillates.

April crude CLJ8, +0.36% fell 10 cents, or 0.2%, to $60.61 a barrel on the New York Mercantile Exchange, down from $60.95 before the supply data.

Crude Oil Futures Erased a Small Decline to Turn Higher

On Thursday after government data showed an unexpected drop in U.S. crude inventories. The Energy Information Administration said crude stocks fell by 1.6 million barrels.

A survey of analysts by The Wall Street Journal had produced an average estimate for a 1.9 million barrel rise.

West Texas Intermediate crude for April delivery CLJ8, -0.15% on the New York Mercantile Exchange rose 41 cents, or 0.7%, to $62.09 a barrel.

EIA: US commercial crude oil inventories decreased by 8.9 mln barrels

Key highlights from the EIA’s report’s summary of weekly petroleum data for the week ending August 11, 2017: • U.S. crude oil refinery inputs averaged about 17.6 million barrels per day during the week ending August 11, 2017, 9,000 barrels per day less than the previous week’s average • U.S. crude oil imports averaged over 8.1 million barrels per day last week, up by 364,000 barrels per day from the previous week • U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 8.9 million barrels from the previous week • Total commercial petroleum inventories decreased by 7.3 million …

US commercial crude oil inventories decreased by 6.5 mln barrels

Key highlights from the EIA’s report’s summary of weekly petroleum data for the week ending August 4, 2017: • U.S. crude oil refinery inputs averaged 17.6 million barrels per day during the week ending August 4, 2017, 166,000 barrels per day more than the previous week’s average • Refineries operated at 96.3% of their operable capacity last week • U.S. crude oil imports averaged about 7.8 million barrels per day last week, down by 491,000 barrels per day from the previous week • U.S. commercial crude oil inventories decreased by 6.5 million barrels from the previous week • Total products supplied over the last four-week period …

West Texas Intermediate crude oil for April delivery CLJ7,

West Texas Intermediate crude oil price raised for April 2017

West Texas Intermediate Crude Oil Price

Oil futures remained higher Thursday after spiking to a session high following a smaller-than-expected rise in weekly U.S. crude inventories.

West Texas Intermediate crude oil for April delivery CLJ7, +2.16% on the New York Mercantile Exchange was up 97 cents, or 1.8%, at $54.56 a barrel after trading as high as $54.94 after the Energy Information Administration said U.S. crude supplies rose 600,000 barrels in the week ended Feb. 17.

Analysts surveyed by The Wall Street Journal had forecast, on average, a 3.4 million barrel rise. Data from the American Petroleum Institute, an industry trade group, late Wednesday had shown an 884,000-barrel.

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