EIA: PADD 2 Gasoline Stocks Reach 9-Week Low

DAVENPORT, FL (DTN) – Midwest (PADD 2) gasoline inventories declined last week during the week ended March 13, falling to the lowest level in nine weeks, while distillate stocks increased and crude oil balances rose, according to U.S. Energy Information Administration data released Wednesday.

Motor gasoline inventories in PADD 2 fell by 1.2 million bbl to 58.8 million bbl on the week, EIA data showed, marking the lowest level since the week ended January 9, when inventories stood at 56.5 million bbl. Compared with the corresponding week last year, gasoline inventories were also 1.2 million bbl lower than the 60 million bbl recorded during the same period. Total motor gasoline imports averaged 9,000 bpd, up 1,000 bpd from the prior week and in line with the same week of the prior year. 

Distillate fuel oil inventories in the Midwest rose by 600,000 bbl on the week to 29.6 million bbl and were 3.5 million bbl below the level reported in the same week of the prior year. Distillate fuel oil imports were at 6,000 bpd, down 2,000 bpd from the prior week and 2,000 bpd below the level reported in the same week of the prior year.

Jet fuel inventories in PADD 2 fell by 700,000 bbl to 7.3 million bbl on the week. Stocks were 600,000 bbl below the volume recorded in the same week of the prior year. During the profiled week, PADD 2 jet fuel imports remained at zero bpd, unchanged week-over-week and year-over-year.

Crude oil inventories in PADD 2 increased by 1 million bbl to 110 million bbl during the profiled week and were 4.5 million bbl above volumes recorded in the corresponding week of the prior year. Crude oil imports into the Midwest averaged 2.944 million bpd during the reference week, compared with 3.395 million bpd the prior week and 2.499 million bpd reported in the same week of the prior year.

Refinery utilization in the Midwest decreased to 90.9% of operable capacity from 92.8% the prior week and was in line with the 90.9% recorded in the same week of the prior year, according to EIA data.