API reports Surprise Draw in Commercial Crude Oil Stocks


   
   OAKHURST, N.J. (DTN) --- The American Petroleum Institute reported a 
surprise drawdown from domestic crude oil inventory during the week ended April 
19 while detailing a smaller-than-expected gasoline stock decline and 
unexpected distillate supply build.

   API reports commercial crude oil stocks dropped 3.23 million in the week 
ended April 19 versus an expected 500,000 bbl increase. At the Cushing, 
Oklahoma, tank farm, the New York Mercantile Exchange delivery point for West 
Texas Intermediate futures, supply dropped 898,000 bbl.

   API reports gasoline inventory decreased 595,000 bbl last week, below an 
expected 1.5 million bbl draw. Distillate fuel supply rose 724,000 bbl, missing 
calls for a 1 million bbl draw.




(c) Copyright 2024 DTN, LLC. All rights reserved.