2009 Economic Calendar
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EIA Petroleum Status Report  
Released On 4/22/2009 10:30:00 AM For wk4/17, 2009
Crude oil inventories [weekly change]5.6 M barrels3.9 M barrels

Oil stocks continue to swell in news that is certain to raise talk of $45 oil. Crude oil stocks rose 3.9 million barrels in the April 17 week with stocks at Cushing, Oklahoma also up. Stocks of gasoline and distillates showed increases. Data on demand showed further deterioration. Oil prices fell 50 cents to about $48.50 in initial reaction to the results.

The Energy Information Administration (EIA) provides weekly information on petroleum inventories in the U.S., whether produced here or abroad. The level of inventories helps determine prices for petroleum products.  Why Investors Care
As is evident from the chart, crude oil stocks can fluctuate dramatically over the year. When oil prices nearly reached $50 per barrel in August 2004, financial market players began to monitor crude oil inventories. It is not surprising to see sharp price hikes in crude oil when inventories are falling. Conversely, one would expect price declines when inventories are rising.
Data Source: Haver Analytics

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