EIA: Quiet week, awkward and gasoline inventories little changed

EIA: Quiet week, awkward and gasoline inventories little changed

The Energy Advice Administration appear its account address on the cachet of petroleum inventories in the United States today.

Here are some highlights:

CRUDE INVENTORIES:

Crude oil inventories added by 0.6 actor barrels to a absolute of 372.2 actor barrels. At 372.2 actor barrels, inventories are 33.2 actor barrels aloft aftermost year (9.8%) and are aloft the high absolute of the boilerplate range.

GASOLINE INVENTORIES:

Gasoline inventories decreased by 0.8 actor barrels to 233.2 actor barrels. At 233.2 actor barrels, inventories are up 1.1 actor barrels, or 0.5% college than aftermost year. Here's how alone regions and their gasoline account fared aftermost week: East Coast (+1.7mb); Midwest (-0.5mb); Gulf Coast (-0.5mb); Rockies (no change); and West Coast (-1.5mb). It is important to agenda which regions saw increases/decreases as this advice acceptable drives prices up (in the case of falling inventories), or bottomward (in the case of ascent inventories).

DISTILLATE (diesel, heating oil) INVENTORIES:

Distillate inventories decreased by 3.7 actor barrels to a absolute of 125.9 actor barrels. At 125.9 actor barrels, inventories are now 12.4% lower than a year ago. Absolute alcohol inventories angle 17.8 actor barrels lower than their year ago level. 

IMPLIED DEMAND:

Products supplied to end users amounted to 19 actor barrels per day, or 926,000 barrels per day added than the antecedent week. Compared to the aforementioned aeon aftermost year, artefact supplied was about 800,000 barrels higher.

REFINERY OUTPUT/UTILIZATION:

Refinery appliance decreased to 83.8%, bottomward 0.4% vs. aftermost week's numbers. Gasoline assembly added aftermost anniversary averaging 8.9 actor barrels per day while alcohol ammunition assembly decreased, averaging aloof beneath 4.4 actor barrels per day.

Utilization ante for the aftermost anniversary were as follows: East Coast: 75.9%, Midwest: 86.6%, Gulf Coast: 84.8%, Rocky Mountain: 91.1%, West Coast: 79.7%. These percentages appearance how abundant of a region's all-embracing accommodation were acclimated to clarify oil. It is important to agenda these percentages, because the lower the appliance percent, the lower output, which has a absolute appulse on bounded gasoline prices. If refiners in your arena accept low output, your added acceptable to see prices rise.

OVERALL SUPPLY:

Total oil stocks in the United States are up by 40.3 actor barrels (3.8%) over aftermost year and angle at 1.906 billion barrels (excluding the Strategic Petroleum Reserve).

IMPORTS/EXPORTS:

The U.S. alien 7.5 actor barrels of awkward oil per day aftermost week, bottomward by 0.05mb vs. the antecedent week. Absolute motor gasoline imports aftermost anniversary averaged 693,000bpd. The U.S. additionally alien 86,000bpd of alcohol fuels. However, during the aforementioned time frame, the U.S. exported 484,000bpd of gasoline and 1.08mbpd of distillates. In total, U.S. refineries exported 3.1 actor barrels per day of oil and products.

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