U.S. Petroleum Weekly – November 17, 2011

November 17th, 2011 by Belisarius

(For The Week Ending November 11, 2011)

Crude oil supply and demand remains balanced. Crude had a tremendous run and it’s starting to look overextended. Brent WTI price spread narrowed on the reversal of Seaway pipeline.

Crude stocks fell 1.1 million barrels; Gasoline stocks were up 1.0 million barrels; Distillate stocks fell 2.1 million barrels; Propane/propylene stocks fell 0.6 million barrels; Other oils stocks fell 5.4 million barrels; Total crude oil and petroleum stocks were down 8.7 million barrels.

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