API: Crude Supply Surged, Distillates Down for Another Week


   
Dawn Gallagher
DTN Energy Reporter

   OAKHURST, N.J. (DTN) --- The American Petroleum Institute reported a surge 
in commercial crude oil inventory in the week ended July 4 while gasoline and 
distillate fuel supplies declined.

   API reports commercial crude oil supply surged 7.1 million bbl last week 
while supply at the Cushing, Oklahoma tank farm, the delivery point for New 
York Mercantile Exchange West Texas Intermediate futures, added 100,000 bbl.

   The data show another weekly draw in distillate supply, down 800,000 bbl, 
while gasoline inventory dropped 2.2 million bbl in the week ended July 4.




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