{"id":65761,"date":"2023-09-26T18:18:44","date_gmt":"2023-09-26T22:18:44","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/commodities\/u-s-crude-stocks-up-1-6m-barrels-gasoline-distillates-down-api\/"},"modified":"2023-09-26T18:18:46","modified_gmt":"2023-09-26T22:18:46","slug":"u-s-crude-stocks-up-1-6m-barrels-gasoline-distillates-down-api","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=65761","title":{"rendered":"U.S. crude stocks up 1.6M barrels, gasoline, distillates down\u00a0 – API"},"content":{"rendered":"
\n

Investing.com — U.S. rose in the just-ended week, after tumbling the prior week, while inventories of fuel products gasoline and distillates extended their declines, according to a report by petroleum industry group API.\u00a0<\/p>\n

The possibly rose by 1.586M barrels during the week ended Sept. 22, according to the API, or American Petroleum Institute.\u00a0<\/p>\n

The petroleum industry group reported a crude drop of 5.25M barrels in the prior week to Sept. 15.<\/p>\n

The API numbers serve as a precursor to official inventory data on the same due from the U.S. Energy Information Administration, or EIA, on Wednesday.\u00a0<\/p>\n

Notwithstanding the build in crude stockpiles, the API cited a drop of 0.828M barrels last week at the Cushing, Oklahoma hub that serves as a central delivery and storage point for . In the prior week, the API reported a Cushing deficit of \u200b\u200b2.564M barrels.<\/p>\n

On the fuels side, API reported a drop of 0.07M barrels in gasoline and\u00a0 a decline of 1.698M in distillates. In the previous week, it noted a 0.732M barrel build for gasoline and a drop of 0.258M gain for distillates.<\/p>\n

With the API report out, anticipation builds on what the EIA will cite for last week\u2019s oil supply-demand in the United States, and how that will impact crude prices that have risen about 30% over the past three months as a squeeze in Saudi-Russian production prompted the trade to prioritize supply reduction over real demand.<\/p>\n

For last week, analysts tracked by Investing.com expect the EIA to report a drop of 1.65 million barrels, versus the 2.135M reduction reported during the week to Sept 15.<\/p>\n

On the front, the consensus is for a slide of 0.050M barrels over the 0.831M-barrel decline 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 2.0M barrels versus the prior week\u2019s deficit of 2.867M. Distillates are refined into , diesel for trucks, buses, trains and ships and fuel for jets.<\/p>\n

\u00a0<\/p>\n<\/div>\n

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

Investing.com — U.S. rose in the just-ended week, after tumbling the prior week, while inventories of fuel products gasoline and distillates extended their declines, according to a report by petroleum industry group API.\u00a0 The possibly rose by 1.586M barrels during the week ended Sept. 22, according to the API, or American Petroleum Institute.\u00a0 The petroleum […]<\/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-65761","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 up 1.6M barrels, gasoline, distillates down\u00a0 - API | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Investing.com -- U.S. rose in the just-ended week, after tumbling the prior week, while inventories of fuel products gasoline and distillates extended\" \/>\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=65761\" \/>\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 up 1.6M barrels, gasoline, distillates down\u00a0 - 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