API: Crude Stocks Up 6.1M Bbl, Rise 7th Week in Row


   
Barani Krishnan
DTN Refined Fuels Market Reporter

   SECAUCUS, NJ (DTN) -- The American Petroleum Institute (API) has cited a 
seventh consecutive weekly build in commercial crude oil stocks in its reading 
for the week ended April 10, energy market participants with access to the data 
told DTN on Tuesday (4/14).

   The API reported that commercial crude oil stocks rose by 6.1 million bbl, 
according to traders who saw the data. That extended a string of prior builds 
over six weeks that led to an accumulation of more than 42 million bbl.

   The Cushing, Oklahoma delivery point for NYMEX WTI futures, saw a decline of 
1.7 million bbl last week, according to the data. In the prior week ended April 
3, Cushing saw a slide of 600,000 bbl.

   Gasoline inventories also rose last week, by 626,000 bbl, after a 4.0 
million bbl drop the previous week.

   Distillate fuel supply was the only component of the API report that 
registered a decline for last week, with balances falling 3.4 million bbl to 
add the prior week's decrease of 600,000 bbl.




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