U.S. Petroleum Weekly – January 11, 2012

(For The Week Ending January 6, 2012)

The price of crude oil is shaped on one side with fears of global economic slowdown and on the other side western countries efforts to discourage Iranian crude oil buying. In my view, geopolitical risks are keeping the price high.

Crude stocks rose 5.0 million barrels; Gasoline stocks were up 3.6 million barrels; Distillate stocks rose 4.0 million barrels; Propane/propylene stocks fell 0.9 million barrels; Other oils stocks fell 2.5 million barrels; Total crude oil and petroleum stocks were up 9.4 million barrels.

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