new] Leanan on Wed Apr 26 at 10:47 AM EST
Tomorrow is here.
Crude oil stocks fall by 200,000 barrels. Gasoline stocks fall 1.9 million barrels. Both are larger declines than expected.
Summary of Weekly Petroleum Data for the Week Ending April 21, 2006
U.S. crude oil refinery inputs averaged nearly 15.1 million barrels per day during the week ending April 21 up 343,000 barrels per day from the previous week's average. Refineries operated at 88.2 percent of their operable capacity last week. Gasoline production increased last week, averaging nearly 8.5 million barrels per day, while distillate fuel production also increased compared to the previous week, averaging 3.8 million barrels per day.
U.S. crude oil imports averaged nearly 9.9 million barrels per day last week, up 199,000 barrels per day from the previous week. Over the last four weeks, crude oil imports have averaged nearly 9.8 million barrels per day, a decrease of 417,000 barrels per day from the comparable four weeks last year. Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged over 1.3 million barrels per day, the fourth largest weekly volume ever. Distillate fuel imports averaged 379,000 barrels per day last week.
U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) inched lower by 0.2 million barrels from the previous week. However, at 345.0 million barrels, U.S. crude oil inventories remain well above the upper end of the average range for this time of year. Total motor gasoline inventories dropped by 1.9 million barrels last week, and are now below the lower end of the average range. Distillate fuel inventories increased by 1.0 million barrels last week, and remain above the upper end of the average range for this time of year. Increases were seen in both low-sulfur distillate fuel (diesel fuel) and high-sulfur distillate fuel (heating oil) inventories. Total commercial petroleum inventories rose by 2.8 million barrels last week, and remain above the upper end of the average range for this time of year.
Total products supplied over the last four-week period has averaged 20.6 million barrels per day, or 1.3 percent more than averaged over the same period last year. Over the last four weeks, motor gasoline demand has averaged over 9.1 million barrels per day, or 0.3 percent above the same period last year.
Distillate fuel demand has averaged nearly 4.1 million barrels per day over the last four weeks, or 2.8 percent below the same period last year. Jet fuel demand is up 3.3 percent over the last four weeks compared to the same four-week period last year.
Who was it that suspected the inventory report had bad news, and Bush saw it early, hence yesterday's speech?
theoildrum.com |
