U.S. Petroleum Weekly – July 11, 2011

(For The Week Ending July 1, 2011)

Crude oil and distillates stocks recorded small declines. 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 0.9 million barrels; Gasoline stocks were down 0.6 million barrels; Distillate stocks decreased 0.2 million barrels; Propane/propylene stocks rose 2.3 million barrels; Other oils stocks rose 1.9 million barrels; Total crude oil and petroleum stocks fell 0.5 million barrels.

This entry was posted on Monday, July 11th, 2011 at 2:32 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