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 13th and 14th showed crude inventories climbing for the week ended February 9th.
The API found crude stocks rising 4.1 million barrels to 290.7 million barrels, an increase of 7.9 million barrels over the same period a year ago. Gasoline stocks dipped 40,000 barrels to 203.6 million barrels, up 6.87 million barrels from 2000.
Distillates gained 938,000 barrels to 113.8 million barrels, an increase of 8.9 million barrels over the previous year.
The API reported refinery utilization for the week of 89.8 percent, compared with 89.9 percent the previous week and 86.6 percent in 2000.
The EIA found crude stocks jumping 3.4 million barrels to 289 million barrels, an increase of 2.3 million barrels over the same period a year ago.
Gasoline stocks slipped 900,000 barrels to 202.9 million barrels, down 3.5 million barrels from 2000. Distillates added 800,000 barrels to 116.1 million barrels, up 9.8 million barrels from last year, while heating oil stocks were unchanged for the week at 49.3 million barrels, an increase of 8 million barrels over 2000.
The EIA report showed refinery utilization for the week of 90.5 percent, down from 90.8 percent the prior week.
© 2001 Mena Report (www.menareport.com)
