{"id":25700,"date":"2023-06-21T20:32:39","date_gmt":"2023-06-22T00:32:39","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/commodities\/u-s-crude-stocks-down-gasoline-surges-amid-distillates-draw-api\/"},"modified":"2023-06-21T20:32:40","modified_gmt":"2023-06-22T00:32:40","slug":"u-s-crude-stocks-down-gasoline-surges-amid-distillates-draw-api","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=25700","title":{"rendered":"U.S. crude stocks down; Gasoline surges amid distillates draw – API"},"content":{"rendered":"
\n

Investing.com — stocks likely fell last week and inventories of distillates slid too, while those of gasoline surged, petroleum industry group API indicated in a preliminary report on Wednesday ahead of official inventory data.<\/p>\n

The fell by 1.246 million barrels during the week ended June 16, according to the API, or American Petroleum Institute. The petroleum industry group reported a crude build of 1.024M barrels in the prior week to June 9.<\/p>\n

Notwithstanding the crude draw, the API cited a minor build of 50,000 barrels last week at the Cushing, Oklahoma hub that takes delivery of U.S. crude. In the prior week, the API reported a Cushing build of 1.502M barrels.<\/p>\n

On the fuels side, API reported a gasoline inventory rise of 2.935M barrels and a distillate stock drop of 0.301M barrels. In the previous week, it noted a 2.075M barrel build for gasoline and 1.394M build for distillates.<\/p>\n

EIA seen reporting crude, gasoline build; Slight distillates draw<\/h2>\n

The API data serves as a precursor to official inventory data on the same due from the U.S. Energy Information Administration, or EIA, on Thursday.<\/p>\n

For last week, analysts tracked by Investing.com expect the EIA to report a build of 1.873M barrels, versus the 7.919M barrel rise reported during the week to June 9.<\/p>\n

On the front, the consensus is for a rise of 1.091M barrels on top of the 2.108M-barrel gain in the previous week. Automotive fuel gasoline is the No. 1 U.S. fuel product.<\/p>\n

With , the expectation is for a drop of 0.001M barrels versus the prior week\u2019s gain of 2.123M. Distillates are refined into , diesel for trucks, buses, trains and ships and fuel for jets.<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Investing.com — stocks likely fell last week and inventories of distillates slid too, while those of gasoline surged, petroleum industry group API indicated in a preliminary report on Wednesday ahead of official inventory data. The fell by 1.246 million barrels during the week ended June 16, according to the API, or American Petroleum Institute. The […]<\/p>\n","protected":false},"author":1,"featured_media":3473,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[242],"tags":[83],"class_list":["post-25700","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-commodities","tag-featured","post_format-post-format-gallery"],"yoast_head":"\nU.S. crude stocks down; Gasoline surges amid distillates draw - API | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Investing.com -- stocks likely fell last week and inventories of distillates slid too, while those of gasoline surged, petroleum industry group API\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=25700\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"U.S. crude stocks down; 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