EIA: PADD 2 Gasoline Stocks Rise for Second Straight Wk
12/17 12:51 PM
EIA: PADD 2 Gasoline Stocks Rise for Second Straight Wk
Miguel E. Andujar
DTN Refined Fuels Market Reporter
DAVENPORT, FL (DTN) -- Midwest (PADD 2) inventories for gasoline and jet
fuel increased in the week ending December 12, while distillate fuel stocks
declined and crude oil inventories moved slightly higher, U.S. Energy
Information Administration data released Wednesday (12/17) showed.
PADD 2 gasoline stocks rose by 1.1 million bbl to 48.8 million bbl in the
profiled week, compared with 47.4 million bbl in the same week last year. The
build follows a 2.8 million bbl increase the prior week, marking the second
consecutive weekly rise in Midwest gasoline inventories. Motor gasoline
blending component stocks also increased, climbing to 44.6 million bbl, above
the 43.7 million bbl held a year earlier. The back-to-back builds have improved
near-term supply coverage across the Midwest, pushing gasoline inventories
modestly above annual basis after a period of tighter balances. That more
comfortable supply backdrop has weighed on prices, with PADD 2 retail gasoline
averaging $2.59 gallon last week, 19.4cts below the same period last year.
Regional distillate fuel oil inventories declined by 800,000 bbl to 26.1
million bbl, slipping below the 27.2 million bbl reported in the same week last
year. The region held 25.2 million bbl of ultra-low sulfur diesel, compared
with 26.4 million bbl a year earlier. The draw reverses part of the previous
week's build and leaves Midwest distillate inventories below year-ago levels,
underscoring a tightening stock position as winter demand remains elevated
across northern markets. That tighter inventory structure has kept diesel
prices firm, with PADD 2 retail diesel averaging $3.566 gallon in the week
ended Dec. 15, 11.7cts higher than the same week last year.
Jet fuel inventories in PADD 2 increased by 500,000 bbl to 7.9 million bbl,
compared with 7.2 million bbl in the same week last year. The build lifts
Midwest jet fuel stocks further above year-ago levels, improving inventory
coverage following earlier seasonal draws.
Crude oil inventories in PADD 2 edged slightly higher, rising by 100,000 bbl
to 102.1 million bbl, and remained below the 105.1 million bbl reported in the
same week last year.
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