U.S. Petroleum Weekly – June 30, 2011

(For The Week Ending June 24, 2011)

Demand is strengthening, crude oil stocks declined, distillates mostly unchanged. Supply/demand balance is tight.

Release of strategic reserve will have, in my view, relatively small effect on supply/demand balance, so the price weakness is probably short-term.

Crude stocks fell 4.4 million barrels; Gasoline stocks were down 1.4 million barrels; Distillate stocks increased 0.3 million barrels; Propane/propylene stocks rose 1.7 million barrels; Other oils stocks rose 1.6 million barrels; Total crude oil and petroleum stocks fell 0.3 million barrels.


This entry was posted on Thursday, June 30th, 2011 at 6:38 am 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