2016 Economic Calendar
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EIA Petroleum Status Report  
Released On 2/10/2016 10:30:00 AM For wk2/5, 2016
Crude oil inventories [weekly change]7.8 M barrels-0.8 M barrels
Gasoline [weekly change]5.9 M barrels1.3 M barrels
Distillates [weekly change]-0.8 M barrels1.3 M barrels

A dip in imports helped ease pressure for oil where inventories fell 0.8 million barrels in the February 5 week to what is still a very heavy 502.0 million barrels. And pointing to a deepening glut are product inventories with both gasoline and distillates up a sharp 1.3 million barrels each and both at their upper inventory limits. Demand indications for gasoline are moderate, up 2.5 percent year-on-year, with distillates very weak, at minus 15.8 percent which reflects the warm winter and points to weak industrial demand. Soft demand and heavy inventories are not good for prices with WTI down 50 cents and below $28.50 in early 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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