U.S. Petroleum Weekly – April 14, 2011
(For The Week Ending April 8, 2011)
Goldman doesn’t like markets taking their research lightly, so it issued sell recommendations twice.
Same as it issued sell recommendation ahead 2008 crude oil record run.
Look at the gasoline stocks.
Crude oil stocks rose 1.6 million barrels; Gasoline stocks fell 7.0 million barrels; Distillate stocks were down 2.7 million barrels; Propane/propylene stocks rose 1.0 million barrels; Other oils stocks rose 0.5 million barrels; Total crude oil and petroleum stocks were 5.0 million barrels lower for the week.
Look at the gasoline stocks seasonality chart. The most bullish data point on crude oil since 2007.
