U.S. Petroleum Weekly – 24 February 2010
Crude oil stocks rose 3.0 million barrels for week ending 19 February; Gasoline stocks decreased for 0.9 million barrels; Distillate stocks fell 0.6 million barrels; Propane/propylene stocks decreased 2.3 million barrels; Other oils fell 1.1 million barrels; Total crude oil and petroleum stocks rose 1.4 million barrels.
Refinery utilization rose from 79.8% to 81.2%.
Crude oil and petroleum product net imports were at 10.1 million barrels. All categories of petroleum stocks are still at elevated levels.
A report really unsupportive to crude oil prices. A clear short opportunity is developing.
Chart 1. Crude Oil Futures
Source: StockCharts.com
Chart 2. Weekly Change in U.S. Crude Oil and Distillates Stocks
Source: EIA
Chart 3. U.S. Total Crude Oil, Gasoline and Distillate Ending Stocks
Source: EIA
Chart 4. Change in U.S. Crude Oil and Distillates Stocks
Source: EIA
Chart 5. U.S. Refinery Capacity, Inputs, and Production
Source: EIA
Chart 6. Weekly U.S. Total Crude Oil and Petroleum Products Imports and Exports
Source: EIA
