API: U.S. Crude Stocks Slip; Gasoline, Distillates Build


   
Barani Krishnan
DTN Refined Fuels Market Reporter

   SECAUCUS, NJ (DTN) -- U.S. crude oil stockpiles declined last week after two 
consecutive weeks of builds while gasoline and distillate inventories continued 
to build, according to inventory data released by the American Petroleum 
Institute (API) on Tuesday (1/6).

   U.S. commercial crude oil stocks fell by 2.8 million bbl during the week 
ended January 2, after prior back-to-back increases of 1.7 million and 2.4 
million bbl, the API data showed.

   The crude inventory decline for the profiled week, however, contrasted with 
a 700,000 bbl rise at the Cushing, Oklahoma, delivery point for NYMEX West 
Texas Intermediate futures.

   Gasoline inventories surged by 4.4 million bbl, adding to the 6.2 million 
bbl from the prior week.

   Distillate fuel oil stocks climbed by 4.9 million bbl, extending the 
previous 1 million bbl increase.

    




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