U.S. Petroleum Weekly – December 23, 2010

(For The Week Ending December 17, 2010)

Crude oil stocks fell 5.3 million barrels; Gasoline stocks rose 2.4 million barrels; Distillate stocks fell 0.6 million barrels; Propane/propylene stocks fell 3.5 million barrels; Other oils stocks decreased 0.3 million barrels; Total crude oil and petroleum stocks were 6.0 million barrels lower for the week.

Refinery utilization fell 0.3% to 87.7%.

Implied crude oil demand rose 0.4 million barrels.

Crude oil and petroleum product net imports rose 1.7 million barrels to 9.4 million barrels. Back to normal.

Another stockpile draw and another rise in gasoline stocks. Demand flat. Overall the crude oil stocks decrease data gives a kind of bullish tone for oil price.

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. U.S. Crude Oil Implied Demand

Chart 5. U.S. Motor Gasoline Implied Demand

Chart 6. U.S. Distillate Fuel Implied Demand

Chart 7. U.S. Crude Oil Total Inventory

Chart 8. Motor Gasoline Total Inventory

Chart 9. Distillate Fuel Oil Total Inventory

Chart 10. U.S. Refinery Capacity, Inputs, and Production

Chart 11. Weekly U.S. Total Crude Oil and Petroleum Products Imports and Exports

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