API: Crude, Gasoline Draw on Week; Distillates Resume Rise


   
Miguel E. Andujar
DTN Refined Fuels Market Reporter

   DAVENPORT, FL (DTN) -- U.S. crude oil stockpiles declined last week along 
with gasoline inventories while distillate stocks returned to builds, according 
to inventory data released by the American Petroleum Institute (API) on Tuesday 
(1/27).

   U.S. commercial crude oil stocks fell by 247,000 bbl during the week ended 
January 23, against market expectations for a 1.45 million bbl build after the 
3 million bbl increase the prior week.

   The crude inventory draw for the profiled week was accompanied by a 92,000 
bbl decline at the Cushing, Oklahoma delivery point for NYMEX West Texas 
Intermediate futures. In the prior week, Cushing inventories saw a 1.2 million 
bbl increase.

   On the gasoline front, inventories declined by 415,000 bbl, contrary to the 
6.2 million bbl build reported the prior week.

   Distillate fuel oil stocks rose by 2 million bbl, versus the prior week's 
33,000 bbl draw. The change put distillates back on an upward trend, with 
inventory gains in nine out of the last ten weeks.




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