API: Crude Stocks Off By 9.1M Bbl; Products Down Too

SECAUCUS, NJ (DTN) – The American Petroleum Institute (API) cited a 9.1-million bbl decline in commercial crude stocks for the week ended May 15, the fourth such weekly drop in a row, energy market participants who saw the data told DTN on Tuesday (5/19).

The Cushing, Oklahoma delivery point for NYMEX WTI futures saw a 1.4-milllion slide in stockpiles for the profiled week, adding to the prior week’s 1.75-milllion bbbl drop.

Distillate fuel supply fell by 1 million bbl, deepening the prior decline of 319,000 bbl.

Gasoline inventories slipped by 5.8 million bbl, after a prior slide of 502,000 bbl.