U.S. Petroleum Weekly – 24 March 2010

Crude oil stocks rose 7.2 million barrels for week ending 19 March; Gasoline stocks fell for 2.7 million barrels; Distillate stocks decreased 2.4 million barrels; Propane/propylene stocks were flat; Other oils stocks decreased 1.1 million barrels; Total crude oil and petroleum stocks increased 0.4 million barrels.

Refinery utilization rose from 80.6% to 81.1%.

Crude oil and petroleum product net imports were at 9.8 million barrels. All categories of petroleum stocks are still at elevated levels.

A big increase in crude oil stocks; a price reaction not adequate, I would go short crude oil.

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. U.S. Refinery Capacity, Inputs, and Production

Source: EIA

Chart 5. Weekly U.S. Total Crude Oil and Petroleum Products Imports and Exports

Source: EIA

This entry was posted on Wednesday, March 24th, 2010 at 3:06 pm and is filed under Commodities, U.S. Petroleum Weekly. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

Comments are closed.

 

Get Adobe Flash player