Weekly reports from the American Petroleum Institute (API) and the Energy Information Administration (EIA), the statistical arm of the U.S. Department of Energy (DOE), released on February 6th and 7th showed gaining crude inventories and falling gasoline stocks in the week ending February 2nd.
The API reported crude stocks climbing 3 million barrels to 285.9 million barrels, an increase of 436,000 barrels from the same period in 2000.
Gasoline stocks dropped 3.2 million barrels to 203.6 million barrels, up 3.1 million barrels from the previous year.
Distillates dipped 157,000 barrels to 112.8 million barrels, an increase of 6.9 million barrels from 2000.
The API found refinery utilization for the week ended February 2nd of 89.9 percent , compared with 90.5 percent the previous week and 84.4 percent last year.
The EIA reported crude inventories growing 3.0 million barrels to 285.6 million barrels, down 500,000 barrels from the same period a year ago.
Gasoline stocks plunged 2.1 million barrels to 203.8 million barrels, down 4.2 million barrels from 2000. Distillates rose 800,000 barrels to 115.3 million barrels, an increase of 8.6 million barrels over the previous year, while heating oil stocks climbed 1.1 million barrels to 49.3 million barrels, up 8.1 million barrels from 2000.
The EIA found refinery utilization for the week of 90.8 percent , down from 91.9 percent in the previous week.
© 2001 Mena Report (www.menareport.com )