API: U.S. Crude Builds; Gasoline Leads Product Builds


   
Miguel E. Andujar
DTN Refined Fuels Market Reporter

   DAVENPORT, FL (DTN) -- U.S. crude oil stockpiles increased for a second 
consecutive week, led by a sizable build in gasoline alongside increases in 
distillates, according to inventory data released by the American Petroleum 
Institute (API) on Tuesday (12/30).

   U.S. commercial crude oil stocks rose by 1.7 million bbl during the week 
ended December 26, the API data showed. The build follows a 2.4 million bbl 
increase reported by API the prior week, reinforcing a short-term shift away 
from the drawdowns seen earlier in December.

   The crude inventory increase for the profiled week coincided with an 800,000 
bbl build at the Cushing, Oklahoma, delivery point for NYMEX West Texas 
Intermediate futures, marking a second consecutive weekly increase following a 
600,000 bbl build the prior week.

   Gasoline inventories surged by 6.2 million bbl, sharply accelerating from 
the 1.1 million bbl build reported a week earlier.

   Distillate fuel oil stocks climbed by 1 million bbl, following a 700,000 bbl 
build the previous week.




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