API: Crude Stocks DN 1.8M Bbl; Distillates, Gasoline Drop

SECAUCUS, NJ (DTN) – The American Petroleum Institute (API) cited a 1.8-million bbl decline in commercial crude stocks for last week, adding to the prior weekly decline of 4.5 million bbl, energy market participants who saw the latest API data told DTN on Tuesday (4/28).

The Cushing, Oklahoma delivery point for NYMEX WTI futures, saw a deficit of 82,000 bbl during the week ended April 24, in line with the broader inventory slide in crude stocks.

Gasoline balances fell by 8.5 million bbl last week, after a 5.17-million bbl slide the week before.

Distillate fuel supply slumped by 2.6 million bbl, deepening the previous week’s decline of 4.46million bbl.