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Strategies & Market Trends : Strictly: Drilling II
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To: Frank Pembleton who wrote (3404)10/30/2001 8:09:21 PM
From: isopatch   of 36161
 
API shows crude stocks up less than expected:

<Supplies of crude oil rose 884,000 barrels to 304.6 million during the week ended Friday, the API said. That was less than the increase of about 1.5 million barrels expected by analysts surveyed by Bloomberg News. The increase left supplies 8.2 percent higher than a year earlier.>

Some declines in refined products were also unexpected:

<Inventories of distillate fuels, including heating oil and diesel, fell unexpectedly, declining by 262,000 barrels to 125.9 million. Analysts expected an increase of about 750,000 barrels.

Supplies of heating oil rose 0.6 percent to 56.2 million barrels, the highest level since December 1999. Demand was the strongest since late March with the approach of the winter heating season, figures in the API report showed. Diesel fuel inventories fell 0.8 percent to 69.7 million barrels.

Gasoline inventories also fell unexpectedly, dropping by 639,000 barrels to 205.7 million.>
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