U.S. Petroleum Weekly – October 7, 2010

(For The Week Ending October 1, 2010)

Crude oil stocks rose 3.1 million barrels for the week ending October 1, 2010; Gasoline stocks fell 2.6 million barrels; Distillate stocks were down 1.1 million barrels; Propane/propylene stocks rose 0.6 million barrels; Other oils stocks were up 1.0 million barrels; Total crude oil and petroleum stocks were 1.1 million barrels higher than the week before.

Refinery utilization fell 2.7% to 83.1%.

Implied crude oil demand fell 1.6 million barrels to 14.0 million barrels. Third lowest reading for this time of the year in ten years.

Crude oil and petroleum product net imports fell 0.3 million barrels to 9.1 million barrels.

All categories of petroleum stocks are still at extremely elevated levels. Gasoline and distillate stocks at multi-year highs.

Chart 1. Crude Oil Futures

Chart 2. Crude Oil Futures Curve

Chart 3. Weekly Change in U.S. Crude Oil and Distillates Stocks

Chart 4. Crude Oil, Gasoline and Distillate Fuel Implied Demand

Chart 5. Crude Oil Implied Demand Seasonality

Chart 6. U.S. Total Crude Oil, Gasoline and Distillate Ending Stocks

Chart 7. DOE Motor Gasoline Total Inventory Seasonality

Chart 8. DOE Distillate Fuel Oil Total Inventory Seasonality

Chart 9. U.S. Refinery Capacity, Inputs, and Production

Chart 10. Weekly U.S. Total Crude Oil and Petroleum Products Imports and Exports

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