EIA: PADD 2 Gasoline Stocks Climb on Week, Jet Fuel Drops


   
Barani Krishnan
DTN Refined Fuels Market Reporter

   SECAUCUS, NJ (DTN) -- Midwest gasoline inventories rose last week, joined by 
surging crude oil and distillate fuel stocks, while jet fuel balances fell, the 
Energy Information Administration (EIA) reported Wednesday (7/1), citing data 
for the week ended June 26.

   Motor gasoline inventories in the PADD 2 region built by 200,000 bbl on the 
week to 43.9 million bbl, according to the federal agency's report. On the 
year, PADD 2 gasoline stocks were down by 3.5 million bbl from the 47.4 million 
bbl level seen during the corresponding week last year.

   Weekly imports of gasoline into the Midwest region rose by 1,000 bpd on the 
week to average 14,000 bpd during the current reporting period. This increase 
left regional gasoline imports higher than the year-ago level of 11,000 bpd 
recorded during the corresponding week last year.

   Distillate fuel oil inventories in the PADD 2 region rose by 600,000 bbl on 
the week to reach a total of 27.8 million bbl. That build placed regional 
distillate inventories at 3.72 million bbl higher than the 24.08 million bbl 
logged during the corresponding week last year. Distillate imports into the 
region averaged 21,000 bpd, up by 16,000 bpd on the week and rising by 12,000 
bpd from the year-ago period.

   Jet fuel stocks fell by 300,000 bbl from the prior week to 7.5 million bbl, 
standing 700,000 bbl above the previous year's level. Inbound jet fuel 
shipments to the Midwest remained at zero, representing an unchanged status on 
both the week and the year under current reviews.

   Crude oil inventories increased by 800,000 bbl on the week to 98.1 million 
bbl, which is 4.9 million bbl lower than last year. Crude imports into the PADD 
2 region increased by 123,000 bpd on the week to average 2,654,000 bpd, 
according to latest data. However, this inbound crude oil volume remains 
368,000 bpd lower than the 3,022,000 bpd reported by the agency during the 
corresponding week last year.

   Refiner use of crude in the Midwest stood at 4.258 million bpd for last 
week, versus 4.261 million the week prior and 4.223 million a year ago. The 
rate of utilization slipped to 99.8% versus the prior week's 100% and the 
year-ago level of 99.1%.




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