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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 7/18/07 For wk 7/13 2007 | ||||||||
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Highlights
Energy stocks were down for the July 13 week. Crude oil stocks slipped 0.1 million barrels in the July 13 week to 352.1 million. Gasoline stocks declined 2.3 million barrels in the week with distillates down 0.2 million barrels. Refineries continued to nudge output up, operating at 91.0 percent of capacity. According to the EIA, gasoline demand was up 1.3 percent versus the same period last year; for distillate demand, up 4.4 percent, and jet fuel demand, down 1.8 percent. Crude stocks remain well above the upper end of average range, gasoline below lower end average range, and distillate in middle of average range.
![[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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