U.S. Petroleum Weekly – 3 March 2010
Crude oil stocks rose 4.0 million barrels for week ending 26 February; Gasoline stocks increased for 0.8 million barrels; Distillate stocks fell 0.8 million barrels; Propane/propylene stocks decreased 0.5 million barrels; Other oils fell 2.9 million barrels; Total crude oil and petroleum stocks fell 0.4 million barrels.
Refinery utilization rose from 81.2% to 81.9%.
Crude oil and petroleum product net imports were at 10.2 million barrels. All categories of petroleum stocks are still at elevated levels.
Belisarius is puzzled with the crude oil recent price action. The crude oil stockpiles keep on rising despite increased refinery run rates (refiners raising run rates despite extremely high gasoline stockpiles). The U.S. dollar is strong and crude oil price is not falling.
Chart 1. Crude Oil Futures
Chart 2. Weekly Change in U.S. Crude Oil and Distillates Stocks
Chart 3. U.S. Total Crude Oil, Gasoline and Distillate Ending Stocks
Chart 4. Change in U.S. Crude Oil and Distillates Stocks
Chart 5. U.S. Refinery Capacity, Inputs, and Production
Chart 6. Weekly U.S. Total Crude Oil and Petroleum Products Imports and Exports