EIA: PADD 1 Gasoline Up 1.6M Bbl, Distillates Up 100K


   
Miguel E. Andujar
DTN Refined Fuels Market Reporter

   DAVENPORT, FL (DTN) -- East Coast inventories of gasoline and distillate 
fuel oil increased in the week ending December 5, while regional jet fuel 
stocks edged lower and crude oil inventories posted a draw, U.S. Energy 
Information Administration data released Wednesday (12/10) showed.

   PADD 1 gasoline stocks rose by 1.6 million bbl to 49.6 million bbl in the 
profiled week, compared with 54.3 million bbl in the same week last year. Motor 
gasoline blending component stocks also increased, up 1.2 million bbl to 47.2 
million bbl, and compared with the 51.4 million bbl in the same week last year. 
Seasonal gasoline demand in the region continues to ease into December, keeping 
stocks relatively balanced despite the weekly build.

   Jet fuel inventories on the East Coast slipped slightly, down 100,000 bbl to 
9.8 million bbl, compared with 11.3 million bbl in the same week last year.

   Regional distillate fuel oil inventories increased by 100,000 bbl to 28.7 
million bbl, well below the 35.8 million bbl reported in the same week last 
year. The region held 27.3 million bbl of ultra-low sulfur diesel, compared 
with 34.3 million bbl last year. With heating demand beginning to accelerate 
ahead of colder winter weather, the low stock position continues to keep supply 
conditions tight. That has provided underlying support for regional diesel and 
heating oil prices, with on-highway diesel in PADD 1 averaging about $3.73 
gallon last week, up by 16cts gallon from the same week last year.

   Crude oil inventories in PADD 1 declined 600,000 bbl to 7.9 million bbl, 
compared with 8 million bbl in the same week last year.




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