The API reported a smaller than expected draw in gasoline and a smaller than expected build in
distillate fuel inventories.
The API released its data late Tuesday afternoon showing a draw in both total crude oil stocks and gasoline and a small build in
distillate fuel inventories.
Not exact matches
The jump in crude and gasoline stocks was offset by a bigger - than - anticipated fall in
inventories of diesel, jet
fuel and other
distillates.
Gulf Coast
distillate fuel oil
inventories have fallen for four consecutive weeks, according to EIA data.
In a nutshell, huge draw - downs in
fuel and
distillates (think cars, diesel for heavy machinery) are not being supported fully by refinery runs which will serve to draw down the excess
inventory and are quite bullish for prices.
Distillate inventories are projected to increase by 0.5 million barrels as exports of distillate fuel out of the U.S. Gulf were steady
Distillate inventories are projected to increase by 0.5 million barrels as exports of
distillate fuel out of the U.S. Gulf were steady
distillate fuel out of the U.S. Gulf were steady last week.
If the actual EIA data is in sync with my
distillate fuel projection
inventories versus last year will likely now be about 9.2 million barrels above last year while the surplus versus the five - year average will come in around 18.7 million barrels.