U.S. Petroleum Weekly – December 15, 2011

(For The Week Ending December 9, 2011)

The rumors are that Saudis had to unload record amounts of physical crude to the markets (from their hedges) because of lack of able counter parties to roll the positions due to shortage of credit.

Crude stocks fell 1.9 million barrels; Gasoline stocks were up 3.8 million barrels; Distillate stocks rose 0.5 million barrels; Propane/propylene stocks fell 0.5 million barrels; Other oils stocks fell 0.2 million barrels; Total crude oil and petroleum stocks were up 2.0 million barrels.

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