Not Logged In Log In   Sign Up   Points Leaders
Follow Us    7:43 PM

Message Forum - Read Message

Category: GasBuddy Official Blog > Topics Add to favorite topics   Post new topicPost New Topic
Author Topic: DOE Report Highlights Back to Topics
PD

Moderator
Message Posted: Aug 24, 2011 2:17:42 PM



The Department of Energy released its weekly report on the condition of petroleum inventories in the United States today.
Here are some highlights:
Crude oil inventories decreased by 2.2 million barrels to a total of 351.8 million barrels. At 351.8 million barrels, inventories are above the upper limit of the average range for this time of year. Supply at NYMEX delivery point, Cushing, Oklahoma fell slightly from 33.68 million barrels to 33.66 million barrels this week.

Gasoline inventories increased from 210.1 million barrels to 211.4 million barrels. At 211.4 million barrels, inventories are now 6.3% lower than last year. Inventory levels declined in the Midwest and West coast while they increased in the...

Visit GasBuddy Blog for full article
REPLIES (newest first) Post a Reply
Profile Pic
BurtB
Champion Author Los Angeles

Posts:10,095
Points:1,771,260
Joined:Jun 2006
Message Posted: Sep 7, 2011 12:36:29 AM

http://www.johnmauldin.com/outsidethebox/things-that-make-you-go-hmmm/

and so it was that 'the oil price' gradually became less about the little town in Oklahoma with a population of 9,596 and more about the real world price: and that meant Brent.
...
It is notable that when people talk about oil having hit its 'highs' of $140 back in 2008 and now trading almost 40% lower they are referring to the price of WTI, which has tumbled back into the $80s, but both Argus Sour Crude (left, top) and the more ubiquitous Brent Crude (left, middle) contracts are still trading within shouting distance of their lifetime highs.

Profile Pic
DrCashFlow
Champion Author Massachusetts

Posts:9,310
Points:2,122,770
Joined:Jun 2008
Message Posted: Aug 26, 2011 2:46:05 AM

noise
Profile Pic
runway12
Champion Author Tacoma

Posts:3,174
Points:626,200
Joined:Aug 2008
Message Posted: Aug 25, 2011 12:41:56 PM

Summer to winter switch over already?
Profile Pic
FPLREP
Champion Author Virginia

Posts:10,918
Points:2,956,460
Joined:Oct 2005
Message Posted: Aug 25, 2011 8:19:24 AM

What this report mainly shows is how far the speculators have "Hijacked" the market.
Profile Pic
MilestoneMotors
All-Star Author Allentown

Posts:877
Points:720,485
Joined:Apr 2011
Message Posted: Aug 25, 2011 7:54:58 AM

We have been sitting on high supply for over 3 years now on the crude side, and refineries are at minimal utilization for over 3 years now causing an artificially lower refined product side. Nothing more to see here... move along...
Profile Pic
ktbaeohana
Champion Author Las Vegas

Posts:4,220
Points:889,550
Joined:Mar 2010
Message Posted: Aug 25, 2011 3:43:01 AM

Let's see what next week show.
Profile Pic
RENEGADEGAS
Champion Author Missouri

Posts:17,318
Points:2,072,215
Joined:Jul 2008
Message Posted: Aug 25, 2011 1:51:04 AM

I never trust anything, not one thing from a federal agency of this regime.
Profile Pic
judgemobile
Champion Author Ohio

Posts:9,909
Points:2,956,385
Joined:Nov 2005
Message Posted: Aug 25, 2011 12:12:42 AM

gasoline inventories INCREASED, yet we saw an AVERAGE 6.5 cents per gallon INCREASE at the pump today (Wednesday) across NW Ohio. Greed and speculation are the new supply and demand.
Profile Pic
frostyWV
Champion Author West Virginia

Posts:2,340
Points:521,130
Joined:May 2011
Message Posted: Aug 25, 2011 12:12:27 AM

prices went up 12 cents today here. WHY??????????????????

[Edited by: frostyWV at 8/25/2011 12:13:08 AM EST]
Profile Pic
Rageagainsttm
Champion Author Tampa

Posts:10,492
Points:2,394,560
Joined:Jul 2007
Message Posted: Aug 25, 2011 12:09:55 AM

Hope that prices fall as they should.
Profile Pic
us4usa
Champion Author Missouri

Posts:7,090
Points:1,460,170
Joined:May 2008
Message Posted: Aug 25, 2011 12:08:35 AM

Good news the pump prices will fall...
Profile Pic
14Ghosty1
All-Star Author Montreal

Posts:932
Points:190,000
Joined:Jul 2011
Message Posted: Aug 25, 2011 12:06:03 AM

A waste of time.
Profile Pic
NotmeuQc
Champion Author Montreal

Posts:7,792
Points:1,636,625
Joined:Apr 2009
Message Posted: Aug 25, 2011 12:04:36 AM

Not exciting.
Profile Pic
sammy518
Champion Author Austin

Posts:2,589
Points:539,790
Joined:Dec 2010
Message Posted: Aug 25, 2011 12:02:38 AM

ok
Profile Pic
cehend
Champion Author Maryland

Posts:1,725
Points:461,525
Joined:Jan 2011
Message Posted: Aug 25, 2011 12:00:38 AM

Interesting.
Profile Pic
FlyNFool
Champion Author South Carolina

Posts:10,496
Points:2,192,070
Joined:Aug 2008
Message Posted: Aug 24, 2011 11:56:40 PM

Low lights.
Profile Pic
fullauto
Champion Author Reading

Posts:6,980
Points:1,832,095
Joined:Apr 2008
Message Posted: Aug 24, 2011 11:51:31 PM

indian poker.
Profile Pic
yonasb
Champion Author Houston

Posts:3,463
Points:852,575
Joined:Apr 2011
Message Posted: Aug 24, 2011 11:48:39 PM

Wow
Profile Pic
jimgraham
Champion Author Akron

Posts:12,735
Points:2,491,925
Joined:Oct 2007
Message Posted: Aug 24, 2011 11:45:18 PM

The usual drivel.
Profile Pic
Gas_Buzzer
Champion Author South Carolina

Posts:16,419
Points:3,018,615
Joined:Sep 2005
Message Posted: Aug 24, 2011 11:44:53 PM

Over 16,000 employees and this is what they do? LOL
Profile Pic
tomok
Champion Author Portland

Posts:42,719
Points:2,856,960
Joined:Aug 2006
Message Posted: Aug 24, 2011 11:41:23 PM

Crude oil inventories decreased, Gasoline inventories increased, Distillate inventories increased, Refinery utilization increased and Production of ethanol increased.
The price of fuel at the pump is ‘still’ too high!
Profile Pic
carloco75
Champion Author Richmond

Posts:6,055
Points:1,099,270
Joined:Oct 2010
Message Posted: Aug 24, 2011 11:36:19 PM

Blahhhhhhhhhhhhh
Profile Pic
darkknight1
Champion Author Winston-Salem

Posts:6,655
Points:1,406,285
Joined:Nov 2010
Message Posted: Aug 24, 2011 11:30:12 PM

Doesn't matter, we're still getting screwed at the pump.
Profile Pic
dacofa
Champion Author Nevada

Posts:5,551
Points:1,224,930
Joined:Jan 2010
Message Posted: Aug 24, 2011 11:27:08 PM

How about the lowlights.
Profile Pic
bcok
Champion Author Los Angeles

Posts:3,161
Points:1,886,455
Joined:Oct 2005
Message Posted: Aug 24, 2011 11:26:27 PM

Did that release of oil really help anything or just a another flash in the pan remedy?
Profile Pic
oldiesman
Champion Author New York

Posts:8,621
Points:2,679,345
Joined:May 2006
Message Posted: Aug 24, 2011 11:26:13 PM

still dropping on some brands.
Profile Pic
bettersight
Champion Author Oakland

Posts:1,116
Points:255,885
Joined:May 2011
Message Posted: Aug 24, 2011 11:24:51 PM

ok
Profile Pic
straz
Champion Author Pennsylvania

Posts:1,708
Points:540,485
Joined:Jan 2007
Message Posted: Aug 24, 2011 11:24:37 PM

Just doesn't add up
Profile Pic
Bubba44612
Champion Author Ohio

Posts:9,661
Points:2,382,725
Joined:Aug 2005
Message Posted: Aug 24, 2011 11:23:32 PM

So that is why they raised prices today.
Profile Pic
spunky4443
Champion Author Washington

Posts:5,616
Points:1,413,275
Joined:May 2005
Message Posted: Aug 24, 2011 11:22:42 PM

I would imagine that there is a lot of Stock pile Oil.
Profile Pic
trinda1
Champion Author Fort Worth

Posts:2,011
Points:548,095
Joined:Dec 2010
Message Posted: Aug 24, 2011 11:17:08 PM

Nothing matters anymore, we just go with the flow.
Profile Pic
mstearno
Champion Author Dayton

Posts:9,438
Points:2,154,335
Joined:Jan 2008
Message Posted: Aug 24, 2011 11:05:04 PM

these are funny
Profile Pic
nayla2011
All-Star Author Toronto

Posts:587
Points:13,365
Joined:Apr 2011
Message Posted: Aug 24, 2011 11:04:29 PM

more mombojumbo sick of the reasoning, stats, oil this oil that, i think when America gets Libyia's oil they'll be alright.
Profile Pic
lesndave
Champion Author Texas

Posts:5,246
Points:1,206,130
Joined:May 2011
Message Posted: Aug 24, 2011 11:01:09 PM

Prices started changing around here yesterday after almost two weeeks of being steady. One station dropped prices snicker while others raised theirs a mickle.......go figure!!!!
Profile Pic
f250dieselrat
All-Star Author Florida

Posts:831
Points:407,775
Joined:May 2011
Message Posted: Aug 24, 2011 10:57:06 PM

I dont care what they make the #'s work out too..the price isn't in line....
Profile Pic
OGW
Champion Author London

Posts:6,863
Points:1,970,815
Joined:Sep 2005
Message Posted: Aug 24, 2011 10:56:28 PM

It still means little to the public.
Profile Pic
M8trix4
Champion Author New York

Posts:1,339
Points:666,135
Joined:May 2011
Message Posted: Aug 24, 2011 10:53:47 PM

Finally cracked the $3.70 mark in one town and $3.80 in the neighboring city. Very slow to go down....
Profile Pic
grammamNV
Champion Author Nevada

Posts:2,335
Points:372,425
Joined:Mar 2011
Message Posted: Aug 24, 2011 10:53:26 PM

Regular gas is not dropping here, but diesel seems to be 5-6 cents lower-??
Profile Pic
mcmonsta
Champion Author Honolulu

Posts:5,356
Points:1,320,750
Joined:Sep 2009
Message Posted: Aug 24, 2011 10:52:50 PM

prices till in limbo land but atleast it hasn't gone up
Profile Pic
PAborn54
All-Star Author Milwaukee

Posts:972
Points:656,490
Joined:May 2009
Message Posted: Aug 24, 2011 10:51:35 PM

The prices I've seen today are higher than yesterday.
Profile Pic
carefrey
Champion Author Orlando

Posts:7,722
Points:1,651,520
Joined:Sep 2009
Message Posted: Aug 24, 2011 10:47:46 PM

Price hasn't dropped though!
Profile Pic
MidNJ
Champion Author New Jersey

Posts:9,373
Points:1,624,870
Joined:Sep 2009
Message Posted: Aug 24, 2011 9:42:21 PM

Wow PD,

"Interesting things" are happening in the voting of "newsville" articles and the articles that make it to the top five (5):)!
Profile Pic
Venzadriver
Champion Author Florida

Posts:1,367
Points:472,380
Joined:Dec 2010
Message Posted: Aug 24, 2011 9:24:45 PM

Any excuse to keep prices jacked up.
Profile Pic
swrestler
Champion Author Grand Rapids

Posts:8,460
Points:2,081,240
Joined:Oct 2008
Message Posted: Aug 24, 2011 9:06:52 PM

This Doesn't Include What We Have In Freighters Sitting Offshore Waiting To Be Processed.....
Profile Pic
kame2c
Champion Author Portland

Posts:5,620
Points:193,725
Joined:Mar 2011
Message Posted: Aug 24, 2011 8:11:29 PM

The demand is down, though we are still have inventories of 351 million barrels.
Profile Pic
brbaritone
Champion Author Virginia

Posts:3,403
Points:2,181,280
Joined:Jan 2007
Message Posted: Aug 24, 2011 7:40:05 PM

Oil inventories are "above the upper limit of the average range for this time of year." Gasoline inventories are "6.3% lower than last year." Hmmm ...
Profile Pic
FauntleePhil
Sophomore Author Seattle

Posts:222
Points:422,670
Joined:May 2011
Message Posted: Aug 24, 2011 7:17:53 PM

Good to know where our supply stands.
Profile Pic
Lugi1967
Champion Author Ohio

Posts:6,866
Points:1,495,400
Joined:Jun 2010
Message Posted: Aug 24, 2011 6:56:03 PM

Oh so that explains the big jump this week?!?!
Profile Pic
GasScamp
Veteran Author Columbus

Posts:275
Points:449,640
Joined:Aug 2011
Message Posted: Aug 24, 2011 6:09:38 PM

Still doesn't tell the full story. Lots of other variables...
Profile Pic
dpt
Champion Author Michigan

Posts:2,956
Points:2,604,110
Joined:Mar 2005
Message Posted: Aug 24, 2011 5:26:26 PM

Doesn't explain why prices jumped in the Great Lakes region. A couple of stations in Menominee, MI went up 26 cents. The rest are slightly less ridiculous, but I only saw two stations with no increase in Marinette-Menominee today, and one was already at the new Marinette price.
Post a reply Back to Topics