EIA: U.S. Crude Stocks at 10-Month High; Gasoline Down


   
Barani Krishnan
DTN Refined Fuels Market Reporter

   SECAUCUS, NJ (DTN) -- U.S. commercial crude oil stocks extended their rise 
last week to reach a 10-month high and distillate inventories rose too while 
gasoline and jet fuel balances fell, Energy Information Administration (EIA) 
data showed Wednesday (3/4).

   Crude stocks climbed by 3.5 million bbl to 439.3 million bbl during the week 
ended February 27, the EIA Weekly Petroleum Status Report showed, extending the 
16 million bbl surge from the week prior and marking the highest level since 
the week ended May 23, 2025, when inventories stood at 440.3 million bbl.

   The EIA's reporting of oil inventories has registered large discrepancies 
over the past two months after major snow blizzards that hit production in the 
Permian Basin.

   Last week's crude stock rise was accompanied by a 1.6 million bbl build at 
the Cushing, Oklahoma delivery point for NYMEX West Texas Intermediate futures. 
In the prior week, Cushing inventories saw a rise of 900,000 bbl.

   Distillate fuel oil inventories rose by 400,000 bbl, after the previous 
week's 300,000-bbl tumble.

   Jet fuel stocks slipped by 200,000 bbl to 42.1 million bbl and were down 3.1 
million lower from the same week previous year.

   Total motor gasoline inventories extended their decline for a third 
consecutive week, falling by 1.7 million bbl to 253.1 million bbl last week 
after prior weekly declines of 1 million and 3.3 million bbl. The drops ended a 
prior streak of 13 weekly builds in the product between November and February.

   Blending components for gasoline tumbled by 2.5 million bbl to 238.5 million 
bbl, adding to the previous drop of 500,000 bbl. Conventional gasoline stocks, 
however, rose by 800,000 bbl to 14.6 million bbl after the prior plunge of 1.6 
million bbl.

   Refinery utilization rebounded to 89.2% of operable capacity from a prior 
88.6% as the maintenance work at crude processing plants appeared to plateau 
from recent highs, allowing more refined output.

   Crude oil inputs into refineries averaged 15.84 million bpd, compared with 
the previous 15.66 million bpd.

   Crude oil exports averaged 4 million bpd, down 300,000 bpd from the prior 
week, while crude imports averaged 6.3 million bpd, down 335,000 bpd from the 
prior week.

   Total products supplied over the last four weeks averaged 20.881 million 
bpd, up 2.5% from the same period a year earlier. Gasoline demand averaged 
8.386 million bpd, down 0.2% from the same period last year, while distillate 
demand averaged 4.083 million bpd, lower by 0.8% from the same period last year.

    




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