U.S. Crude Oil Inventories as of Sept. 1
Posted: Wed Sep 06, 2017 9:06 pm
U.S. crude oil inventories rose by 2.79 million barrels at the end of last week, the American Petroleum Institute said on Wednesday, less than the expected 4.0 million barrels build.
Gasoline inventories fell by 2.54 million barrels and distillates declined by 600,000 barrels. Supplies at the oil hub of Chushing, Oklahoma, rose by 670,000 barrels.
The data was published a day later than usual due to Monday’s Labor Day holiday. The U.S. Department of Energy will release its official data on inventories on Thursday.
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The increase is because so many refineries were shut down by Hurricane Harvey. Keep in mind that these figures are close to WAGs because of so much confusion in Texas and Louisiana. With production and imports down, we should see inventories continue to decline in September. Refineries are coming back on-line and the gasoline supply chain will need to be refilled. Many gasoline stations in Florida are out of fuel.
Gasoline inventories fell by 2.54 million barrels and distillates declined by 600,000 barrels. Supplies at the oil hub of Chushing, Oklahoma, rose by 670,000 barrels.
The data was published a day later than usual due to Monday’s Labor Day holiday. The U.S. Department of Energy will release its official data on inventories on Thursday.
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The increase is because so many refineries were shut down by Hurricane Harvey. Keep in mind that these figures are close to WAGs because of so much confusion in Texas and Louisiana. With production and imports down, we should see inventories continue to decline in September. Refineries are coming back on-line and the gasoline supply chain will need to be refilled. Many gasoline stations in Florida are out of fuel.