Crude and Product Inventories

abarrelfullabarrelfull wrote on 08 Jan 2010 08:35
Tags: eia propane stocks

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The EIA released their latest weekly numbers on Wednesday.

Crude oil inventories rose from 326.0 million barrels to 327.3 million barrels, versus expectations of a fall due to the cold weather.

However, the cold weather cut demand for gasoline, and led to refineries reducing their production runs. So we get both an increase in gasoline and crude oil stocks.

The big winner from the weather is propane. Stocks fell 3 million barrels in just a week. Demand was about 225.000 barrels per day higher than a week before.


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