US crude and product stocks dive across the board

摘要

Combined domestic cmde,gasoline,and middle-distillate inventories(excluding jet fuel),as reported by the US EIA,plunged by 9.028MM bbl over the week ending Sept.18 to a 23-week low of 897.847MM bbl.Crude oil stocks contracted by 1.639MM bbl on the week but were higher on the year by 74.868MM bbl A Reuters poll of eight analysts showed an average forecast for a larger week-on-week crude stockdraw of 2.3MM bbl.The largest draw came from the Gulf Coast region while the week's only regional build was in the Rocky Mountains-both for the second week in a row.Stocks at the Gulf Coast have decllied for eight of the nine most-recent weeks in the EIA's data to reach a 23-week low as of Sept 18.A 427K-b/d week-on-week uptick in crude exports and a 200K-b/d decrease in domestic cmde production contributed to the nationwide crude stockdraw,but cmde imports were up by 427K b/d and refinery crude inputs declined by 118K b/d(while gross inputs fell by 192K b/d).Cmde imports from Saudi Arabia and Canada slipped to a two-week low of 304K b/d and an 11-week low of 2.932MM b/d,respectively,while imports from Mexico jumped to a two-week high of 807K b/d.