Friday, January 18, 2019
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Gasoline Rises After Report That U.S. Inventories Declined

Gasoline futures advanced in New York after an industry report that U.S. inventories of the motor fuel declined last week.

Prices gained as much as 0.7 percent. The American Petroleum Institute reported yesterday that gasoline stockpiles fell 2.02 million barrels. The Energy Information Administration will probably report today that U.S. gasoline supplies rose 300,000 barrels last week, according to the median estimate of 11 analysts in a survey by Bloomberg.

"The demand for gasoline is good, and I'm expecting a draw today," said Phil Flynn, senior market analyst at Price Futures Group in Chicago. Flynn, a survey participant, estimated supplies sank 2 million barrels.

June-delivery gasoline rose 0.7 cent to $2.9372 a gallon at 9:38 a.m. on the New York Mercantile Exchange. Prices touched $2.9499.

The EIA is scheduled to report last week's inventories at 10:30 a.m. today in Washington.

Gasoline's crack spread versus WTI crude narrowed 28 cents to $21.08 a barrel. The motor fuel's premium to Brent, the European benchmark, fell 26 cents to $13.57.

The average U.S. pump price fell 0.4 cent to $3.64 a gallon, the 16th consecutive decline, according to data from Heathrow, Florida-based AAA. Prices are 5.8 cents higher than a year ago.

Ultra low sulfur diesel for June delivery rose 0.92 cent, or 0.3 percent, to $2.9532 a gallon on volume that was 37 percent below the 100-day average. Prices touched $2.9587, the highest intraday level this month.

Supplies of distillates, including diesel and heating oil, probably rose 500,000 barrels last week, according to the survey. The API reported an increase of 883,000 barrels.

Diesel's crack spread versus WTI crude narrowed 20 cents to $21.75 a barrel while the motor fuel's premium to Brent crude fell 16 cents to $14.25.

To contact the reporter on this story: Barbara Powell in Houston at This email address is being protected from spambots. You need JavaScript enabled to view it.

To contact the editors responsible for this story: Dan Stets at This email address is being protected from spambots. You need JavaScript enabled to view it. David Marino, Charlotte Porter


  • Department of Energy Weekly Report (Wednesdays 10:30am est)
  • American Petroleum Institute Weekly Report (Wednesdays 10:30am Est)
  • Natural Gas Inventories Weekly Report (Thursdays 10:30am est)
  • OPEC Production Quotas
  • OPEC Monthly Oil Market Report
  • Non-OPEC Oil Production
  • Mideast Stability
  • Weather- Related demand
  • CFTC Commitment of Traders Report
  • Energy Information Administration Report (Tuesday afternoons)
  • International Energy Agency Policy
  • Chinese (Asian) demand
  • Iraqi production and export levels
  • Russian shale production
  • Alternation Energy production and technological breakthroughs
  • Inflation
  • Dollar weakness and purchasing power
  • Refining Capacity
  • Weather related refining production limitations (eg hurricanes in the gulf)
  • Venezuelan Production
  • Venezuelan Foreign Policy in relation with US
  • Iran Nuclear dispute status
  • US Strategic Petroleum Reserves
  • US New Drilling and Exploratory Initiatives
  • Oil Spills
  • International Energy Agency Reserves
  • General Accountability Office Study on Geopolitical Disruptions
  • International and Domestic Tax rates relating to oil and gasoline
  • New Geopolitical order after Arab Spring

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