Crude Oil Summary (EIA):
U.S. crude oil refinery inputs averaged 16.1 million barrels per day during the week ending April 12, 2019, which was 22,000 barrels per day less than the previous week’s average. Refineries operated at 87.7% of their operable capacity last week. Gasoline production decreased last week, averaging 9.9 million barrels per day. Distillate fuel production decreased last week, averaging 4.8 million barrels per day. U.S. crude oil imports averaged 6.0 million barrels per day last week, down by 607,000 barrels per day from the previous week.
Over the past four weeks, crude oil imports averaged about 6.5 million barrels per day, 20.6% less than the same four-week period last year. Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 990,000 barrels per day, and distillate fuel imports averaged 138,000 barrels per day. U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 1.4 million barrels from the previous week. At 455.2 million barrels, U.S. crude oil inventories are about 2% below the five year average for this time of year. Total motor gasoline inventories decreased by 1.2 million barrels last week and are about 1% below the five year average for this time of year. Finished gasoline inventories increased while blending components inventories decreased last week. Distillate fuel inventories decreased by 0.4 million barrels last week and are about 5% below the five year average for this time of year. Propane/propylene inventories increased by 2.4 million barrels last week and are about 22% above the five year average for this time of year. Total commercial petroleum inventories increased last week by 2.5 million barrels last week. Total products supplied over the last four-week period averaged 20.1 million barrels per day, down by 3.6% from the same period last year. Over the past four weeks, motor gasoline product supplied averaged 9.4 million barrels per day, down by 0.2% from the same period last year. Distillate fuel product supplied averaged 3.9 million barrels per day over the past four weeks, down by 7.6% from the same period last year. Jet fuel product supplied was down 5.3% compared with the same fourweek period last year. The West Texas Intermediate crude oil price was $63.86 per barrel on April 12, 2019, $0.76 above last week’s price but $3.49 less than a year ago. The spot price for conventional gasoline in the New York Harbor was $2.047 per gallon, $0.055 more than last week’s price and $0.050 higher than a year ago. The spot price for ultra-low sulfur diesel fuel in the New York Harbor was $2.067 per gallon, $0.023 above last week’s price but $0.039 under a year ago. The national average retail regular gasoline price was $2.828 per gallon on April 15, 2019, $0.083 higher than last week’s price and $0.081 over a year ago. The national average retail diesel fuel price was $3.118 per gallon, $0.025 above last week’s price and $0.014 over a year ago.
