The American Petroleum Institute late Tuesday reported a rise in U.S. crude supplies that was slightly below some market expectations, along with a hefty, unexpected jump in distillate inventories, according to sources. Data revealed a rise of 1.5 million barrels in U.S. crude supplies for the week ended Jan. 6. Analysts polled by S&P Global Platts forecast a climb of 1.75 million barrels. Sources also said gasoline supplies rose by roughly 1.7 million barrels and distillates jumped by a more-than-expected 5.5 million barrels. "A big build in distillate may be because of weather impacting exports last week," said Price Futures Group's Phil Flynn. Supply data from the Energy Information Administration will be released Wednesday morning. February crude CLG7, +0.22% was at $50.82 a barrel in electronic trading, unchanged from the contract’s settlement on the New York Mercantile Exchange.
Summary of Weekly Petroleum Data for the Week Ending January 6, 2017U.S. crude oil refinery inputs averaged 17.1 million barrels per day during the weekending January 6, 2017, 418,000 barrels per day more than the previous week’s average.Refineries operated at 93.6% of their operable capacity last week. Gasoline productionincreased last week, averaging about 9.7 million barrels per day. Distillate fuelproduction remained unchanged last week, averaging over 5.3 million barrels per day.U.S. crude oil imports averaged about 9.1 million barrels per day last week, up by about1.9 million barrels per day from the previous week. Over the last four weeks, crude oilimports averaged over 8.2 million barrels per day, 6.3% above the same four-week periodlast year. Total motor gasoline imports (including both finished gasoline and gasolineblending components) last week averaged 683,000 barrels per day. Distillate fuel importsaveraged 103,000 barrels per day last week.U.S. commercial crude oil inventories (excluding those in the Strategic PetroleumReserve) increased by 4.1 million barrels from the previous week. At 483.1 millionbarrels, U.S. crude oil inventories are at the upper limit of the average range for this timeof year. Total motor gasoline inventories increased by 5.0 million barrels last week, andare at the upper limit of the average range. Both finished gasoline inventories andblending components inventories increased last week. Distillate fuel inventories increasedby 8.4 million barrels last week and are above the upper limit of the average range forthis time of year. Propane/propylene inventories fell 4.5 million barrels last week but arein the upper half of the average range. Total commercial petroleum inventories increasedby 13.4 million barrels last week.Total products supplied over the last four-week period averaged over 19.5 million barrelsper day, up by 1.3% from the same period last year. Over the last four weeks, motorgasoline product supplied averaged 8.9 million barrels per day, up by 0.7% from thesame period last year. Distillate fuel product supplied averaged over 3.6 million barrelsper day over the last four weeks, up by 7.5% from the same period last year. Jet fuelproduct supplied is up 7.1% compared to the same four-week period last year.
Crude stocks rose by 4.097 mbbls to 483.11 mbbls, stocks are currently 31.92 mbbls higher YOY. via @EnergyBasisCrude production rose by 0.176 mbpd to 8.946 mbpd, production is currently -0.281 mbpd lower YOY. via @EnergyBasis