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Politics : Idea Of The Day

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To: IQBAL LATIF who wrote (39868)	6/13/2001 12:27:43 PM
From: IQBAL LATIF	Read Replies (1) of 50167

The latest U.S. petroleum inventory data released by the API and EIA are bullish for crude oil, moderately bullish for distillates and bearish for motor gasoline. The API inventory numbers show a downward movement in crude oil stocks during the week ending June 8. The EIA also reported a decrease. According to the API, crude oil inventories decreased 13.2 million barrels. The EIA reported a decrease of 8.2 million barrels. Estimates of distillate stocks increased this week according to the API but decreased according to the EIA. The API reported an increase of 274,000 barrels while the EIA reported a decrease of 700,000 barrels. Inventories of motor gasoline increased by 6.3 million barrels according to the API, while the EIA reported an increase of 5.7 million barrels in inventory. Reformulated gasoline stocks increased by 2.4 million barrels according to the API, and increased by the same 2.4 million barrels according to the EIA. The gasoline data are closely watched for the main summer driving season. Refinery utilization decreased by 0.7 percentage points to 96.4% according to the API, and decreased by 0.5 percentage points to 98.9% according to the EIA.

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