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2008 Economic Calendar |
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Resource Center » U.S. & Intl Recaps | Release Dates | Why Investors Care | Today's Calendar
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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
| Released on 5/31/07 For wk 5/25 2007 | ||||||||
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Highlights
Crude oil stocks fell 2.0 million barrels in the May 25 week to 342.2 million, but gasoline stocks, in a likely offset for reaction in the oil market, rose 1.3 million barrels to 198.0 million.
Refineries are finally beginning to run at a brisker pace, at 91.1 percent of capacity in the latest week. Nevertheless, the level of gasoline stocks, down 7.0 percent year-on-year, remains well below average, no doubt a factor behind high prices at the pump. The high prices are keeping a lid on demand, which is up only 1.4 percent year-on-year.
There's no shortage of oil but there still remains a shortage of gasoline though today's data may ease those concerns.
![[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. |
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