U.S. Petroleum Weekly – August 4, 2011

(For The Week Ending July 29, 2011)

Technically crude oil (WTI) looks heavily oversold. On the other side crude oil demand is closely following 2008 path…

Crude stocks rose 1.0 million barrels; Gasoline stocks were up 1.7 million barrels; Distillate stocks increased 0.4 million barrels; Propane/propylene stocks rose 1.1 million barrels; Other oils stocks fell 0.3 million barrels; Total crude oil and petroleum stocks increased 2.6 million barrels.

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