EIA: USGC Crude Stocks Up 6.2M Bbl; Gasoline Stocks Dip

MIAMI, FL (DTN) – Gulf Coast PADD 3 crude oil inventories climbed sharply in the week ending October 3, while gasoline and distillate stocks edged lower and jet fuel inventories increased, according to U.S. Energy Information Administration data released Wednesday (10/8).

Gulf Coast PADD 3 gasoline stocks fell by 100,000 bbl to 79.7 million bbl from 79.8 million bbl the week prior, 3 million bbl above the 76.9 million bbl reported during the same week last year. Gasoline imports fell to 3,000 bpd from 33,000 bpd, below the 16,000 bpd brought in during the previous year.

Distillate inventories fell by 100,000 bbl to 44.8 million bbl from 44.9 million bbl in the week ending October 3. Supplies were 3.8 million bbl higher than the 41.0 million bbl recorded in the same week the prior year. The region recorded no distillate imports for the week, unchanged from both the previous week and the same period last year.

Crude oil inventories climbed by 6.2 million bbl to 244.5 million bbl from 238.3 million bbl in the reference week, 4.6 million bbl above the 239.9 million bbl recorded last year. Crude imports rose to 1.240 million bpd from 805,000 bpd and were nearly unchanged from 1.234 million bpd a year earlier.

Jet fuel inventories climbed by 400,000 bbl to 14.5 million bbl from 14.1 million bbl in the week ending October 3, 400,000 bbl lower than the 14.9 million bbl reported in the previous year. Jet imports fell to zero from 24,000 bpd the prior week, flat compared to the same week last year.