EIA:PADD1 Gasoline Stock DN 2.3M Bbl; Distillates 200K Bbl

DAVENPORT, FL (DTN) — East Coast PADD 1 gasoline inventories declined during the week ending November 7, while jet fuel and crude oil stocks increased, U.S. Energy Information Administration data released Thursday (11/13) showed.

PADD 1 gasoline stocks fell by 2.3 million bbl to 49.4 million bbl in the week profiled and were 1.9 million bbl lower than the level recorded in the same week last year. Gasoline imports increased by 106,000 bpd to 376,000 bpd from 270,000 bpd the prior week, compared with 559,000 bpd in the same week last year.

PADD 1 distillate inventories increased slightly by 700,000 bbl to 27.1 million bbl in the reference week, still well below the 33.3 million bbl reported in the same week last year. The region reported 134,000 bbl in distillate imports, up 73,000 bbl from the prior week and 64,000 higher than the same week last year.

East Coast jet fuel inventories eased by 100,000 bbl to 9.2 million bbl and were 1.5 million bbl lower than the volume reported in the same week last year. This came despite reduced flight capacity in the region. Due to a shortage in air traffic controllers, the Federal Aviation Administration reported last week that it cut all U.S. air traffic by around 10%, in a move anticipated to have particularly impacted the East Coast – a region that experiences heavier air travel compared to others.

The East Coast also reported 129,000 bpd in jet fuel imports, down by 24,000 bpd from 153,000 bpd the previous week.

Crude oil inventories in PADD 1 rose by 200,000 bbl to 8.3 million bbl in the week ending November 7, compared with 7.7 million bbl reported during the same week last year.