The Energy Information Administration (EIA) provides weekly information on petroleum inventories in the U.S., whether produced here or abroad. The level of inventories helps determine prices for petroleum products. Why Investors Care
| Released on 5/23/07 For wk 5/18 2007 | ||||||||
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Highlights
Gasoline stocks rose 1.5 million barrels during the May 18 week to 196.7 million in a gain that may ease pressure on oil prices. A 2.0-million-barrel rise in crude stocks to 344.2 million may also help to ease price pressures. Refineries boosted output during the week, operating at 91.1 percent of capacity. But gasoline stocks, despite the rise, remain below normal, down 6.9 percent year-on-year. High prices at the pump are helping to limit demand, which is up only 1.2 percent year-on-year.
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As is evident from the chart, crude oil stocks can fluctuate dramatically over the year. When oil prices nearly reached $50 per barrel in August 2004, financial market players began to monitor crude oil inventories. It is not surprising to see sharp price hikes in crude oil when inventories are falling. Conversely, one would expect price declines when inventories are rising. |
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