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EIA crude stocks rose 1.2 million barrels and are now 39.463 million barrels above year ago stock levels. Also, EIA crude stocks stand 20.9 million barrels above the 16 year average. Over the last 4 weeks, crude stocks are up a combined 5.274 million barrels. Crude oil imports for the week stood at 9.729 million barrels per day compared to 10.485 million barrels per day the previous week. The refinery operating rate stood at 85.23% up 0.66 from last week and compared to last year’s rate of 85.23% and the 5yr average rate of 88.8%. Total product demand over the past 4 weeks was down 4% compared to year ago.
EIA distillate stocks rose 6.346 million barrels and stand at 14.3 million barrels above last year’s level. Distillate demand stood at 3.654 million barrels per day compared to 4.318 million barrels per day the previous week and 562,000 barrels per day below year ago. Heating oil stocks rose 363,000 barrels and stand at 40.624 million barrels, which leaves stocks 4.318 above year ago. Distillate demand over the past 4 weeks was down 2.4% compared to year ago.
EIA gasoline stocks rose 2.1 million barrels and are now 1.250 million barrels above the 16 year average. Compared to year ago levels, gasoline stocks are at a 1.751 million barrel deficit. The net change in gas stocks over the last 4 weeks has been a rise of 9.55 million barrels. Gas demand stood at 8.758 million barrels per day which is 358,000 barrels per day below year ago. Gasoline imports came in at 797,000 barrels per day compared to 852,000 barrels per day the previous week. Gasoline demand over the past 4 weeks was down 2.1% compared to year ago.
