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To: excardog who wrote (87122)	2/13/2001 6:37:28 PM
From: excardog	Respond to of 95453

Add 1:api Review: NYMEX Crude, Heating Oil Down as Stockpiles ... Feb. 13-MAR-- --NY Mar crude, heating oil down as API stockpiles gain --API: US crude stocks up 4.084 mln barrels in latest week --API: US distillate stocks up 938,000 barrels in latest week --API: US gasoline stocks down 40,000 barrels in latest week --API: US refineries operate at 89.8% in latest wk vs 89.9% --APIs imply US distillate demand 3.93 mln bpd vs 4.10 mln --APIs imply US gasoline demand 7.92 mln bpd vs 8.58r mln By BridgeNews New York--Feb. 13--NYMEX crude and heating oil futures fell in overnight Access trade as American Petroleum Institute data showed crude stocks last week rose 4.084 million barrels -- more than twice that of expectations -- while distillates, which include heating oil and diesel fuel, rose surprisingly to 938,000 barrels. API also reported gasoline stocks surprisingly fell 40,000 barrels last week. * * * U.S. refinery utilization fell 0.1 a basis point of capacity, below expectations for a drop of 0.3-0.6 a point. At 1646 ET, NYMEX Mar WTI crude was down 24 cents at $30.12 a barrel, while Mar heating oil was down 31 points at 78.50c a gallon. The data are for the week ended Friday. The U.S. Department of Energy will release its weekly inventory data on Wednesday after 0900 ET. CRUDE: Up 4.084 million barrels The big increase in U.S. crude stocks last week, which far surpassed expectations of a gain of 1.5 million to 2.0 million barrels, came despite a drop in import levels to 7.946 million barrels per day from 9.186 million bpd the previous week, and mostly steady crude throughput. Crude input to distillation last week stood at 14.877 million bpd, near flat to the previous week's level of 14.882 million bpd. "I'm surprised to see that imports are down," one cash crude trader said, noting ongoing perceptions that high levels of sweet West African and North Sea crude imports are currently headed to the U.S. market. "But I think at least one ship offloaded Friday, and we'll see it next week (in the stats)." "That's the problem with the APIs. It's voluntary, so if someone doesn't report it, we don't see it," the trader noted. Crude stocks rose the most -- 1.987 million bpd -- on the generally unrepresentative West Coast, a region largely ignored by traders and brokers east of the Rocky Mountains. In the key U.S Gulf refining center, stocks were up 1.391 million barrels, in line with lower refinery usage there, while on the East Coast, crude stocks rose 1.097 million barrels. In the Midwest, which includes the NYMEX Cushing, Okla., delivery point for light, sweet crude futures, stocks fell 554,000 barrels. "However, I still think the stats look kind of bearish," a trader said. Despite the week-to-week decline, the Midwest year-to-year deficit in stocks actually narrowed, to 2.918 million barrels, from about 3.5 million the prior week. Meanwhile, the overall year-to-year figure significantly widened, to 7.894 million barrels above 2000 levels, from around 436,000 barrels the prior week. More The bridge.com ID for this story is BPJFJCK