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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: ild who wrote (41513)	9/14/2005 11:43:35 AM
From: ild	Respond to of 110194

Crude oil stocks dropped a steep 6.6 million barrels to 308.4 million in the Sept. 9 week, reflecting output interruption from Katrina. But in a surprise, gasoline stocks rose 1.9 million barrels to 192.0 million against expectations for a sharp drop. Distillate stocks fell 1.1 million to 133.3 million. In another good sign, capacity utilization moved up a 1/2 point in the week to 87.3%. Capacity utilization was in the mid to high 90s before the storm. The Department of Energy said gas production was up substantially in the week. The results suggest that refinery output is being successfully geared up following Katrina and the sharp spike in gas prices. Oil, responding to the build in gasoline stocks, fell back about 50 cents to $63.50 in initial reaction to the data.