USGC residual fuel oil stocks, production fall despite higher crude runs: EIA

Chemical News: USGC residual fuel oil stocks, production fall despite higher crude runs: EIA

https://www.chemnet.com Jul 21,2011 Platts
US Gulf Coast residual fuel oil stocks fell by 32,000 barrels to 19.20 million barrels for the week ended July 15 despite increases in regional crude oil inputs, according to weekly data released by the US Energy Information Administration.

USGC crude oil inputs increased by 10,000 b/d, to 7.58 million b/d, and USGC production fell by 49,000 b/d, to 275,000 b/d last week.

Residual fuel exports out of the region increased by 20,000 b/d, to 408,000 b/d, which a market source said could partially explain the drop in USGC residual fuel oil stocks. Market sources said there has been an increase in exports of USGC 1%S residual fuel oil to Florida, Northwest Europe and Argentina.

During the week ended July 15, fuel oil 3%S prices were nearly flat with the prior week, at an average of $100.60/barrel. Fuel oil 1%S prices for the same week were similarly nearly flat, at an average of $103.90/b.
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