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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
4/18/07
For
wk 4/13 2007 |
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Crude oil inventories (weekly change)
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| Actual |
-1.0M barrels
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| Previous |
0.7
M barrels
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Highlights
Crude oil stocks fell 1.0 million barrels to 332.4 million in April 13 week. Oil stocks remain in the upper half of their average range, unlike gasoline stocks which fell 2.7 million barrels to 197.0 million and are below the lower end of their average range. Low gasoline stocks heading into the spring driving season will add further pressure to oil prices.
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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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