U.S. Petroleum Weekly – May 26, 2010

Crude oil stocks rose 2.5 million barrels; Other oils stocks rose 1.6 million barrels;  Other category of stocks were mostly unchanged for the week ending May 21.

Refinery utilization fell from 87.9% to 87.8%.

Crude oil and petroleum product net imports rose to 11 million barrels. All categories of petroleum stocks are still at extremely elevated levels.

No fundamental improvements, the market is oversupplied, being a believer in further stock market weakens leads to the clear call for the crude oil price – down.

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, May 26th, 2010 at 4:47 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.

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