API: Crude Stocks Continue 12-Week Decline


   
Miguel E. Andujar
DTN Refined Fuels Market Reporter

   DAVENPORT, FL (DTN) -- U.S. crude oil stockpiles declined for a 12th 
consecutive week during the week ended July 10, while gasoline inventories also 
moved lower and distillate fuel stocks increased, the American Petroleum 
Institute (API) reported on Tuesday (7/14).

   U.S. commercial crude oil stocks fell by 564,000 bbl last week, above the 
399,000 bbl draw reported in the previous week.

   API reported a crude inventory build of 238,000 bbl at the Cushing, 
Oklahoma, delivery point for NYMEX West Texas Intermediate futures, reversing 
the 69,000 bbl draw seen during the prior week.

   Gasoline inventories declined by 1.664 million bbl, below the 2.929 million 
bbl draw reported in the previous week.

   Distillate fuel oil stocks increased by 2.3 million bbl, reversing the 1.801 
million bbl draw reported last week.

    




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