API: Crude, Distillate Stocks Rise; Gasoline Falls

API: Crude, Distillate Stocks Rise; Gas

DAVENPORT, FL (DTN) – The American Petroleum Institute on Wednesday reported a build in U.S. crude and distillate fuel inventories for the week ended August 29, while gasoline stocks saw a third consecutive weekly decline.

API reported U.S. commercial crude oil supply rose by 622,000 bbl, while inventories at Cushing, Oklahoma, the delivery point for NYMEX West Texas Intermediate futures, increased by 2.063 million bbl.

Gasoline inventories fell by 4.577 million bbl, marking the third straight weekly draw, while distillate fuel stocks rose 3.687 million bbl for the week.