U.S. Petroleum Weekly – October 13, 2011

(For The Week Ending October 7, 2011)

The macro data will be the main factor driving the price of oil. The demand data was strong in the recent weeks, but came tepid in the last reading. The price has moved fast form deeply oversold into overbought, so the risks are to the downside.

Crude stocks rose 1.3 million barrels; Gasoline stocks were down 4.1 million barrels; Distillate stocks fell 2.9 million barrels; Propane/propylene stocks increased 0.4 million barrels; Other oils stocks rose 4.0 million barrels; Total crude oil and petroleum stocks were down 1.4 million barrels.

This entry was posted on Thursday, October 13th, 2011 at 9:48 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.

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