API: Crude Stocks Up 2.3M Bbl, Rise 4th Week in Row


   
Miguel E. Andujar
DTN Refined Fuels Market Reporter

   DAVENPORT, FL (DTN) -- The American Petroleum Institute (API) has cited a 
fourth consecutive weekly build in commercial crude oil stocks in its reading 
for the week ended March 20, energy market participants with access to the data 
told DTN on Tuesday (3/24).

   The API reported that commercial crude oil stocks rose by 2.3 million bbl 
for the week in review, according to the traders who saw the data. That 
extended a string of builds that included increases of 6.556 million bbl, 5.6 
million bbl and 11.4 million bbl over the prior three weeks,

   At the Cushing, Oklahoma delivery point for NYMEX WTI futures, crude 
inventories climbed by 4 million bbl, according to the data.

   Gasoline inventories increased by 500,000 bbl, following a 3.3 million bbl 
draw reported in the previous week.

   Distillate fuel supply rose by 1.4 million bbl after a modest build of 
516,000 bbl in the prior reporting period.




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