U.S. Petroleum Weekly – August 11, 2011

(For The Week Ending August 5, 2011)

Technically crude oil (WTI) looks heavily oversold. Massive fall in total crude oil and distillates inventory.

Crude stocks fell 5.2 million barrels; Gasoline stocks were down 1.6 million barrels; Distillate stocks fell 0.7 million barrels; Propane/propylene stocks rose 0.2 million barrels; Other oils stocks fell 0.1 million barrels; Total crude oil and petroleum stocks were down 10.7 million barrels.

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