Wonderful API news - better than last weeks numbers!! Although crude rose a tiny 858,000 bbl (don't know how Bloomberg calculated 823,000?) distillates fell 4.7 million and gasoline also fell 4.7 million. These numbers are better than last weeks - and remember what happened last week to the OSX!! Am looking for the resumption in the rally tomorrow (with DOW and NASDAQ falling like rocks, this should speed up the sector rotation into oil stocks).
API Snapshot: U.S. Crude Oil Stocks Rose 823,000 Bbl
Washington, March 23 (Bloomberg) -- The following table is a summary
of the latest Weekly Statistical Bulletin from the American Petroleum
Institute.
Current Last Last Yr. Change Change
Week Week Week From From
Ended Ended Ended Last Last
3/19/99 3/12/99 3/20/98 Week Year
Input to Crude Dist. 14,439 14,735 14,999 -296 -560
Operable Capacity 15,786 15,786 15,786 0 0
Percent Operated 91.5 93.3 95.0
Motor Gasoline Prod. 8,509 7,550 7,683 959 826
Motor Gasoline Stocks 221,427 226,219 214,151 -4,792 7,276
Finished Mogas Stocks 175,471 178,888 164,652 -3,417 10,819
Blend Component Stocks 45,956 47,331 49,499 -1,375 -3,543
Jet Kerosene Prod. 1,529 1,518 1,505 11 24
Jet Kerosene Stocks 43,931 44,815 40,648 -884 3,283
Distillate Fuel Prod. 3,055 3,094 3,451 -39 -396
Distillate Fuel Stocks 130,680 135,366 124,259 -4,686 6,421
Residual Fuel Prod. 593 714 819 -121 -226
Residual Fuel Stocks 38,651 39,428 38,207 -777 444
Crude Oil Imports 8,640 7,782 8,724 858 -84
Product Imports 1,998 2,119 1,568 -121 430
Crude Oil Stocks 337,909 337,086 326,746 823 11,163
Crude Supply Balance -819
An asterisk (*) indicates a revision from the previous week.
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