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Market Update : 
Crude and Gasoline Inventories Decline
Author: 123jump.com Staff
123jump.com
Last Update: 10:50 AM EDT June 18 2008



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U.S. commercial crude oil inventories decreased by 1.2 million barrels from the previous week. At 301.0 million barrels, U.S. crude oil inventories are at the lower boundary of the average range for this time of year. Total motor gasoline inventories decreased by 1.2 million barrels last week, and are in the lower half of the average range. Finished gasoline inventories increased last week while gasoline blending components inventories decreased during this same time.

 
The following is an un-edited press release from the Energy Information Administration.


Summary of Weekly Petroleum Data for the Week Ending June 13, 2008


U.S. crude oil refinery inputs averaged 15.4 million barrels per day during the week ending June 13, up 120 thousand barrels per day from the previous week''s average. Refineries operated at 89.3 percent of their operable capacity last week. Gasoline production remained relatively unchanged from the previous week, averaging about 9.0 million barrels per day. Distillate fuel production decreased last week, averaging 4.4 million barrels per day.

U.S. crude oil imports averaged about 10.3 million barrels per day last week, up 571 thousand barrels per day from the previous week. Over the last four weeks, crude oil imports have averaged nearly 9.7 million barrels per day, 487 thousand barrels per day below the same four-week period last year. Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 1.0 million barrels per day. Distillate fuel imports averaged 257 thousand barrels per day last week.

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by1.2 million barrels from the previous week. At 301.0 million barrels, U.S. crude oil inventories are at the lower boundary of the average range for this time of year. Total motor gasoline inventories decreased by 1.2 million barrels last week, and are in the lower half of the average range. Finished gasoline inventories increased last week while gasoline blending components inventories decreased during this same time. Distillate fuel inventories increased by 2.6 million barrels, and are in the lower half of the average range for this time of year. Propane/propylene inventories remained unchanged last week and moved below the lower limit of the average range. Total commercial petroleum inventories increased by 0.6 million barrels last week, and are near the bottom of the average range for this time of year.

Total products supplied over the last four-week period has averaged 20.4 million barrels per day, down by 1.3 percent compared to the similar period last year. Over the last four weeks, motor gasoline demand has averaged about 9.3 million barrels per day, down by 1.8 percent from the same period last year. Distillate fuel demand has averaged nearly 4.1 million barrels per day over the last four weeks, down by 0.4 percent from the same period last year. Jet fuel demand is 1.9 percent lower over the last four weeks compared to the same four-week period last year.


Available at:

http://www.eia.doe.gov/pub/oil_gas/petroleum/data_publications/weekly_petroleum_status_report/current/txt/wpsr.txt
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