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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...

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REPLIES (newest first) Post a Reply
BurtB
Champion Author Los Angeles

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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.

DrCashFlow
Champion Author Massachusetts

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Message Posted: Aug 26, 2011 2:46:05 AM

noise
runway12
Champion Author Tacoma

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Message Posted: Aug 25, 2011 12:41:56 PM

Summer to winter switch over already?
FPLREP
Champion Author Virginia

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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.
MilestoneMotors
All-Star Author Allentown

Posts:877
Points:602,560
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...
ktbaeohana
Champion Author Las Vegas

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Message Posted: Aug 25, 2011 3:43:01 AM

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

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Message Posted: Aug 25, 2011 1:51:04 AM

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

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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.
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]
Rageagainsttm
Champion Author Tampa

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Message Posted: Aug 25, 2011 12:09:55 AM

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

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Message Posted: Aug 25, 2011 12:08:35 AM

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

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Message Posted: Aug 25, 2011 12:06:03 AM

A waste of time.
NotmeuQc
Champion Author Montreal

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Joined:Apr 2009
Message Posted: Aug 25, 2011 12:04:36 AM

Not exciting.
sammy518
Champion Author Austin

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Message Posted: Aug 25, 2011 12:02:38 AM

ok
cehend
Champion Author Maryland

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Message Posted: Aug 25, 2011 12:00:38 AM

Interesting.
FlyNFool
Champion Author South Carolina

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Message Posted: Aug 24, 2011 11:56:40 PM

Low lights.
fullauto
Champion Author Reading

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Message Posted: Aug 24, 2011 11:51:31 PM

indian poker.
yonasb
Champion Author Houston

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Message Posted: Aug 24, 2011 11:48:39 PM

Wow
jimgraham
Champion Author Akron

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Message Posted: Aug 24, 2011 11:45:18 PM

The usual drivel.
Gas_Buzzer
Champion Author South Carolina

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Message Posted: Aug 24, 2011 11:44:53 PM

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

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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!
carloco75
Champion Author Richmond

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Message Posted: Aug 24, 2011 11:36:19 PM

Blahhhhhhhhhhhhh
darkknight1
Champion Author Winston-Salem

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Message Posted: Aug 24, 2011 11:30:12 PM

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

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Message Posted: Aug 24, 2011 11:27:08 PM

How about the lowlights.
bcok
Champion Author Los Angeles

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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?
oldiesman
Champion Author New York

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Message Posted: Aug 24, 2011 11:26:13 PM

still dropping on some brands.
bettersight
Champion Author Oakland

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Message Posted: Aug 24, 2011 11:24:51 PM

ok
straz
Champion Author Pennsylvania

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Message Posted: Aug 24, 2011 11:24:37 PM

Just doesn't add up
Bubba44612
Champion Author Ohio

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Message Posted: Aug 24, 2011 11:23:32 PM

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

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Message Posted: Aug 24, 2011 11:22:42 PM

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

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Message Posted: Aug 24, 2011 11:17:08 PM

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

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Message Posted: Aug 24, 2011 11:05:04 PM

these are funny
nayla2011
All-Star Author Toronto

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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.
lesndave
Champion Author Texas

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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!!!!
f250dieselrat
All-Star Author Florida

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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....
OGW
Champion Author London

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Message Posted: Aug 24, 2011 10:56:28 PM

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

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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....
grammamNV
Champion Author Nevada

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Message Posted: Aug 24, 2011 10:53:26 PM

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

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Message Posted: Aug 24, 2011 10:52:50 PM

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

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Message Posted: Aug 24, 2011 10:51:35 PM

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

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Message Posted: Aug 24, 2011 10:47:46 PM

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

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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):)!
Venzadriver
Champion Author Florida

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Message Posted: Aug 24, 2011 9:24:45 PM

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

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Message Posted: Aug 24, 2011 9:06:52 PM

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

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Message Posted: Aug 24, 2011 8:11:29 PM

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

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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 ...
FauntleePhil
Sophomore Author Seattle

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Message Posted: Aug 24, 2011 7:17:53 PM

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

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Message Posted: Aug 24, 2011 6:56:03 PM

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

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Joined:Aug 2011
Message Posted: Aug 24, 2011 6:09:38 PM

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

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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.
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