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US data: EIA says residual fuel oil stocks hit five-year low

Houston (Platts)--6 Dec 2017 606 pm EST/2306 GMT


US fuel oil stocks ended the week at their lowest levels in more than five years, US Energy Information Administration data showed Wednesday.

Domestic fuel oil inventories ended the week at 31.126 million barrels, a draw of 1.078 million barrels from last week. Stocks were last lower the week that ended June 1, 2012, when they totaled 31.022 million barrels, EIA data showed.

Stocks fell more than 1 million barrels for the second straight week, and are down 9.312 million barrels from the same time a year ago, data showed.

US Gulf Coast stocks totaled 18.502 million barrels, a draw of 562,000 barrels from last week. Since the week that ended November 10, USGC inventories have declined 2.317 million barrels. Stocks in the region were last lower when they totaled 18.116 million barrels the week that ended January 23, 2015.

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US West Coast stocks fell 421,000 barrels to 4.315 million barrels. US Atlantic Coast stocks rose just 5,000 barrels to 7.18 million barrels, and were the only region to see a week-on-week build from a week ago.

Imports of fuel oil into the US fell 32% to 145,000 b/d, their lowest since they averaged 102,000 b/d in the week that ended November 3.

--Patrick Burns, patrick.burns@spglobal.com

--Edited by Valarie Jackson, valarie.jackson@spglobal.com




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