Categorized | Inventories

Weekly Inventories Data – September 9, 2010

Posted on 09 September 2010 by admin

U.S. crude oil refinery inputs averaged 14.9 million barrels per day during the week ending September 3, 90 thousand barrels per day above the previous week’s average. Refineries operated at 88.2 percent of their operable capacity last week. Gasoline production increased last week, averaging 9.5 million barrels per day. Distillate fuel production remained relatively unchanged last week, averaging 4.3 million barrels per day.

U.S. crude oil imports averaged 8.9 million barrels per day last week, down by 794 thousand barrels per day from the previous week. Over the last four weeks, crude oil imports have averaged 9.5 million barrels per day, 500 thousand barrels per day above the same four-week period last year. Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 1.1 million barrels per day. Distillate fuel imports averaged 253 thousand barrels per day last week.

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 1.9 million barrels from the previous week. At 359.9 million barrels, U.S. crude oil inventories are above the upper limit of the average range for this time of year. Total motor gasoline inventories decreased by 0.2 million barrels last week, and are above the upper limit of the average range. Finished gasoline inventories increased while blending components inventories decreased last week. Distillate fuel inventories decreased by 0.4 million barrels, and are above the upper boundary of the average range for this time of year. Propane/propylene inventories increased by 1.5 million barrels last week and are in the upper half of the average range. Total commercial
petroleum inventories increased by 0.2 million barrels last week.

Total products supplied over the last four-week period has averaged 19.6 million barrels per day, up by 0.7 percent compared to the similar period last year. Over the last four weeks, motor gasoline demand has averaged 9.4 million barrels per day, up by 1.1 percent from the same period last year. Distillate fuel demand has averaged 3.8 million barrels per day over the last four weeks, up by 9.4 percent from the same period last year. Jet fuel demand is 0.8 percent lower over the last four weeks compared to the same four-week period last year.

The average world crude oil price on September 3, 2010 was $73.56 per barrel, $2.28 more than last week’s price and $5.49 above a year ago. WTI was $74.52 per barrel on September 3, 2010, $0.65 less than last week’s price but $6.57 above a year ago. The spot price for conventional gasoline in the New York Harbor was 193.78 cents per gallon, 0.50 cents less than last week’s price but 13.78 cents above last year. The spot price for No. 2 low-sulfur diesel fuel in the New York Harbor was 204.66 cents per gallon, 1.52 cents less than last week’s price but 34.56 cents above a year ago.

The national average retail regular gasoline price was 268.2 cents per gallon on September 6, 2010, unchanged from the previous week but 9.4 cents above a year ago. The national average retail diesel fuel price decreased for the fourth consecutive week to 293.1 cents per gallon, 0.7 cent per gallon under last week but 28.4 cents over a year ago.

Source: Energy Information Administration

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