Oil Prices
Oil Prices
WTI oil price is falling, but if support at $94/bbl holds the upward channel is still intact. I believe will see the low price for oil in the 2nd quarter. Demand will increase in the 2nd half of the year, like it always does.
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group
Re: Oil Prices
This weeks oil report is a mixed bag........
Oil inventory up big at 6.2 million barrels
However gasoline inventories fell 5.2 million barrels.
Then there are rumors that the President wants to release 5 million barrels from the Strategic Reserve....Opinions welcomed!!!
Summary of Weekly Petroleum Data for the Week Ending March 7, 2014
U.S. crude oil refinery inputs averaged 15.0 million barrels per day during the week ending March 7, 2014, 225,000 barrels per day less than the previous week’s average. Refineries operated at 86.0% of their operable capacity last week. Gasoline production increased last week, averaging nearly 9.4 million barrels per day. Distillate fuel production increased slightly last week, averaging over 4.6 million barrels per day.
U.S. crude oil imports averaged over 7.3 million barrels per day last week, up by 199 thousand barrels per day from the previous week. Over the last four weeks, crude oil imports averaged over 7.2 million barrels per day, 5.3% below the same four-week period last year. Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 395,000 barrels per day. Distillate fuel imports averaged 271,000 barrels per day last week.
U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 6.2 million barrels from the previous week. At 370.0 million barrels, U.S. crude oil inventories are in the upper half of the average range for this time of year. Total motor gasoline inventories decreased by 5.2 million barrels last week, but are near the upper limit of the average range. Both finished gasoline inventories and blending components inventories decreased last week. Distillate fuel inventories decreased by 0.5 million barrels last week and are below the lower limit of the average range for this time of year. Propane/propylene inventories fell 1.1 million barrels last week and are near the lower limit of the average range. Total commercial petroleum inventories decreased by 1.6 million barrels last week.
Total products supplied over the last four-week period averaged 18.6 million barrels per day, up by 0.4% from the same period last year. Over the last four weeks, motor gasoline product supplied averaged 8.5 million barrels per day, down by 0.3% from the same period last year. Distillate fuel product supplied averaged over 3.6 million barrels per day over the last four weeks, down by 0.2% from the same period last year. Jet fuel product supplied is up 3.5% compared to the same four-week period last year
Oil inventory up big at 6.2 million barrels
However gasoline inventories fell 5.2 million barrels.
Then there are rumors that the President wants to release 5 million barrels from the Strategic Reserve....Opinions welcomed!!!
Summary of Weekly Petroleum Data for the Week Ending March 7, 2014
U.S. crude oil refinery inputs averaged 15.0 million barrels per day during the week ending March 7, 2014, 225,000 barrels per day less than the previous week’s average. Refineries operated at 86.0% of their operable capacity last week. Gasoline production increased last week, averaging nearly 9.4 million barrels per day. Distillate fuel production increased slightly last week, averaging over 4.6 million barrels per day.
U.S. crude oil imports averaged over 7.3 million barrels per day last week, up by 199 thousand barrels per day from the previous week. Over the last four weeks, crude oil imports averaged over 7.2 million barrels per day, 5.3% below the same four-week period last year. Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 395,000 barrels per day. Distillate fuel imports averaged 271,000 barrels per day last week.
U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 6.2 million barrels from the previous week. At 370.0 million barrels, U.S. crude oil inventories are in the upper half of the average range for this time of year. Total motor gasoline inventories decreased by 5.2 million barrels last week, but are near the upper limit of the average range. Both finished gasoline inventories and blending components inventories decreased last week. Distillate fuel inventories decreased by 0.5 million barrels last week and are below the lower limit of the average range for this time of year. Propane/propylene inventories fell 1.1 million barrels last week and are near the lower limit of the average range. Total commercial petroleum inventories decreased by 1.6 million barrels last week.
Total products supplied over the last four-week period averaged 18.6 million barrels per day, up by 0.4% from the same period last year. Over the last four weeks, motor gasoline product supplied averaged 8.5 million barrels per day, down by 0.3% from the same period last year. Distillate fuel product supplied averaged over 3.6 million barrels per day over the last four weeks, down by 0.2% from the same period last year. Jet fuel product supplied is up 3.5% compared to the same four-week period last year
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group
Re: Oil Prices
Opinions welcomed!!!
f-----g stupid!
f-----g stupid!