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What Caused the US Gasoline Inventory Build Last Week?

WTI Up on Inventory Data; Ignores Gasoline, Distillate Build

(Continued from Prior Part)

US gasoline production

US gasoline production fell from ~9.587 MMbpd (million barrels per day) in the week ended September 4 to 9.247 MMbpd in the week ended September 11. Gasoline production averaged 9.604 MMbpd over the four weeks ended September 11. That’s ~3.2% higher than the ~9.306 MMbpd average over the same period last year. Compared to the four weeks ended September 4, the four-week average supplies fell ~2.5%.

US gasoline demand

US gasoline demand fell from 9.017 MMbpd in the week ended September 4 to 8.983 MMbpd in the week ended September 11. Gasoline demand averaged 9.157 MMbpd over the four weeks ended September 11.

Compared to the four weeks ended September 4, the...


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