U.S. Petroleum Weekly – May 5, 2011

(For The Week Ending April 29, 2011)

Again the price of oil is not determined by the fundamentals but the last couple day’s new hit scare – deflation.

And in case of deflation what will the FED do?

Crude fell stocks rose 3.4 million barrels; Gasoline stocks were down 1.0 million barrels; Distillate stocks decreased 1.4 million barrels; Propane/propylene stocks rose 1.3 million barrels; Other oils stocks rose 3.6 million barrels; Total crude oil and petroleum stocks were 7.5 million barrels lower for the week.

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