You have your energy bullish oil inventory numbers. Gasoline is really a Train Wreck. All screwed up on type, look for fuel oil crisis next winter. Should be interesting set-up in gas burning southern tier:
Message 20166923
Summary of Weekly Petroleum Data for the Week Ending May 21, 2004
Week ending May 21, down 121,000 barrels per day from the previous week's average. The largest decline was in the Gulf Coast region (PADD III), which fell by 100,000 barrels per day to average nearly 7.6 million barrels per day.
Refineries operated at 94.6 percent of their operable capacity last week. Motor gasoline production declined slightly, but still averaged nearly 8.9 million barrels per day.
U.S. crude oil imports averaged 10.5 million barrels per day last week, up 554,000 barrels per day from the previous week, and the fourth largest weekly average ever. Crude oil imports into the West Coast (PADD V) averaged over 1.2 million barrels per day, the fifth largest weekly average ever. Over the last four weeks, crude oil imports have averaged over 10.0 million barrels per day.
Total motor gasoline imports (including both finished gasoline and gasoline blending components) averaged 850,000 barrels per day last week, down 105,000 barrels per day from the previous week. Distillate fuel imports averaged 338,000 barrels per day last week.
U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) remained at 298.9 million barrels, and are currently 16.6 million barrels less than the 5-year average for this time of year. Motor gasoline inventories dropped by 0.7 million barrels last week, and are 9.7 million barrels below the 5-year average. Distillate fuel inventories decreased by 0.5 million barrels, with most of the decrease seen in low-sulfur distillate fuel (diesel fuel). At 108.7 million barrels, distillate fuel inventories are 4.7 million barrels below the 5-year for this time of year. Total commercial petroleum inventories are 58.3 million barrels less than the 5-year average.
Total product supplied over the last four-week period has averaged nearly 20.2 million barrels per day, or 3.9 percent more than averaged over the same period last year. Motor gasoline demand over the last four weeks has averaged over 9.1million barrels per day, or 1.5 percent above the same period last year.
Distillate fuel demand is up 4.1 percent, while kerosene-type jet fuel demand is up 8.8 percent over the last four weeks compared to the same four-week period last year. |
