API: U.S. Crude Stocks Fall; Gasoline, Distillates Build


   
Miguel E. Andujar
DTN Refined Fuels Market Reporter

   DAVENPORT, FL (DTN) U.S. crude oil inventories declined last week, extending 
the prior week's draw, while gasoline and distillate stockpiles increased, 
according to American Petroleum Institute (API) data released late Tuesday 
(12/9).

   U.S. commercial crude oil stocks fell by 4.8 million bbl during the week 
ended December 5, according to API data. The decline follows the prior weekly 
drop of 2.48 million bbl reported by API.

   The crude draw for the profiled week accompanied an 890,000 bbl drop at the 
Cushing, Oklahoma delivery point for NYMEX West Texas Intermediate futures, 
matching the prior week's decline at the hub.

   Gasoline inventories surged by 7 million bbl, following a 3.1 million bbl 
build the prior week.

   Distillate fuel oil stocks rose by 1 million bbl, after the previous weekly 
increase of 2.88 million bbl.




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