US gasoline, diesel stocks down as jet rise: EIA
National gasoline and diesel stocks fell and jet fuel stocks rose last week, reflecting climbing demand for road fuels.
Overall, US gasoline stocks fell by 0.2pc to 246mn bl in the week ending 25 February, according to the Energy Information Administration (EIA). That marked a fourth consecutive weekly drawdown and brought gasoline stocks to their lowest level since the week of 7 January. Implied demand for gasoline rose by 1pc to 8.743mn b/d.
US diesel stocks fell 0.5pc to 119.1mn bl, their lowest level since the week of 22 November 2019. Stocks have fallen for seven consecutive weeks, with implied demand rising for three consecutive weeks to 4.45mn b/d in the week ending 25 February.
US jet fuel stocks rose 1.1pc to 38.2mn bl in the week, as implied demand fell by 0.4pc to 1.47mn b/d.
US refinery inputs rose by 0.4pc to 15.9mn b/d, the highest level since the week ending 4 February. US refiners stepped up processing despite a rise in crude prices amid the conflict in Ukraine, with refining utilization rates rising 1.1pc to 88pc.
By Dylan Chase
| EIA weekly refined products data | |||||
| Stocks mn bl | 25 Feb | 18 Feb | ±% | Year ago | ±% |
| Gasoline | 246 | 246 | -0.2% | 244 | +1.0% |
| Jet | 38 | 38 | +1.1% | 39 | -1.3% |
| Distillate fuel | 119 | 120 | -0.5% | 143 | -16.7% |
| -- ultra low-sulphur (<= 15ppm sulphur) | 110 | 110 | -0.1% | 131 | -16.4% |
| Imports '000 b/d | |||||
| Total products | 2,276 | 1,956 | +16.4% | 2,350 | -3.1% |
| Gasoline | 603 | 416 | +45.0% | 605 | -0.3% |
| Jet | 168 | 119 | +41.2% | 196 | -14.3% |
| Distillate fuel | 403 | 416 | -3.1% | 321 | +25.5% |
| Exports '000 b/d | |||||
| Total products | 5,169 | 4,774 | +8.3% | 3,993 | +29.5% |
| Gasoline | 660 | 685 | -3.6% | 493 | +33.9% |
| Jet | 207 | 84 | +146.4% | 75 | +176.0% |
| Distillate fuel | 749 | 960 | -22.0% | 820 | -8.7% |
| Refinery usage | |||||
| Refinery inputs '000 b/d | 15,904 | 15,847 | +0.4% | 10,300 | +54.4% |
| Refinery utilisation % | 88 | 87 | +1.1% | 56 | +57.1% |
| Products supplied '000 b/d | |||||
| Total products | 20,830 | 21,483 | -3.0% | 18,759 | +11.0% |
| Gasoline | 8,743 | 8,657 | +1.0% | 8,148 | +7.3% |
| Jet | 1,470 | 1,476 | -0.4% | 1,285 | +14.4% |
| Distillate fuel | 4,450 | 4,233 | +5.1% | 3,788 | +17.5% |
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