U.S. Petroleum Weekly – August 26, 2010
(For The Week Ending August 20, 2010)
Crude oil stocks rose 4.1 million barrels for week ending August 20; Gasoline stocks increased 2.3 million barrels; Distillate stocks rose 1.8 million barrels; Propane/propylene stocks were 1.1 million barrels higher; Other oils stocks were up 2.2 million barrels; Total crude oil and petroleum stocks were 8.9 million barrels higher than the week before.
Refinery utilization fell 2.3% to 87.7%.
Crude oil and petroleum product net imports rose for 0.4 million barrels to 10.8 million barrels.
All categories of petroleum stocks are still at extremely elevated levels; storage capacity is probably becoming an issue. Gasoline and distillate stocks at multi-year highs.
Deux ex machina in a form of weakening U.S. dollars saved yesterday crude oil (and stocks) from braking lower band of trading range.
Chart 1. Crude Oil Futures
Source: StockCharts.com
Chart 2. Weekly Change in U.S. Crude Oil and Distillates Stocks
Source: EIA
Chart 3. U.S. Total Crude Oil, Gasoline and Distillate Ending Stocks
Source: EIA
Chart 4. DOE Motor Gasoline Total Inventory
Source: DOE
Chart 5. DOE Distillate Fuel Oil Total Inventory
Source: DOE
Chart 6. U.S. Refinery Capacity, Inputs, and Production
Source: EIA
Chart 7. Weekly U.S. Total Crude Oil and Petroleum Products Imports and Exports
Source: EIA