Domestic production continued to climb up 31 kbpd last week to 10,800 kbpd. Imports rose 715 kpbd WoW rising to 8,346 kbpd bringing total supply inputs to 19,146 kbpd or roughly 2.4% above the 4 week average.
Crude stocks excluding the SPR rose by 2.072 mb to 436.6 mb and stocks at Cushing OK fell .955 mb to 34.6 mb.
Analysts and the API were looking for a 2 mb draw in stocks for this report so the 2 mb rise helped to send futures lower.
Gasoline production fell 3.5% WoW and gasoline stocks are running with 25.2 days of supply and at 239 mb tracking close to last years levels going into the summer. Total gasoline stocks were up the most since December and PADD 3 had the largest build last week.
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