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EIA Petroleum Status Report
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Definition
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
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| Released on
4/4/07
For
wk 3/30 2007 |
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Crude oil inventories (weekly change)
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| Actual |
4.3M barrels
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| Previous |
-0.8
M barrels
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Highlights
A big drop in gasoline stocks will probably overshadow a big rise in crude stocks and feed new gains for oil. Crude oil stocks rose 4.3 million barrels to 332.7 million in the March 30 week, but gasoline stocks fell 5.0 million to 205.2 million. Refineries continue to operate at moderate rates, at 87.0 percent of capacity in the week.
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Trends
![[Chart]](chart.gif)
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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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