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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: Broken_Clock who wrote (102052)	6/4/2008 8:42:33 AM
From: Broken_Clock	Read Replies (3) \| Respond to of 206191

AP Ahead of the Bell: Oil Inventory Report Wednesday June 4, 6:09 am ET Analysts expect crude oil inventories grew last week after unexpected drop in prior 2 periods WASHINGTON (AP) -- Government data scheduled for release Wednesday is expected to show that crude-oil inventories rose last week after unexpected drops in the prior two periods. The Energy Department's forecasting arm, the Energy Information Administration, publishes petroleum inventory data for the week ended May 30 at 10:35 a.m. EDT. Analysts expect oil stockpiles grew last week by 2.7 million barrels, according to a survey by Platts, the energy research arm of McGraw-Hill Cos. For the week ended May 23, crude-oil inventories fell by 8.8 million barrels, or 2.7 percent, to 311.6 million barrels, which were 9.7 percent below year-ago levels. Meanwhile, gasoline inventories fell by 3.2 million barrels, or 1.5 percent, to 206.2 million barrels, which were 2.5 percent above year-ago levels. Analysts expect stockpiles of the motor fuel grew by 900,000 barrels last week. Demand for gasoline over the four weeks ended May 23 was 0.7 percent lower than a year earlier, averaging more than 9.3 million barrels a day. At the same time, U.S. refineries ran at 87.9 percent of total capacity on average, unchanged from the prior week. Analysts expect capacity rose by 0.6 percentage point last week. Inventories of distillate fuel, which include diesel and heating oil, rose by 1.6 million barrels to 109.4 million barrels for the week ended May 23. Analysts expect distillate stocks rose by 1.6 million barrels last week. At the pump, gas prices rose less than a penny overnight to a record-high national average of $3.98 a gallon Tuesday, and are well above the year-ago average of $3.16 a gallon, according to AAA and the Oil Price Information Service. Light, sweet crude for July delivery fell $3.45 to settle at $124.31 on the New York Mercantile Exchange Tuesday.