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 9/26/07 For wk 9/21 2007 | ||||||||
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Highlights
Crude oil inventories rose 1.8 million barrels to 320.6 million in the Sept. 21 week, with increases in both gasoline, up 0.6 million barrels to 191.4 million, and distillates, up 1.6 million to 137.1 million. Increases in refined products were posted despite a decrease in production during the week as refineries operated at a soft 86.9 percent of capacity. Today's data are a surprise and will not feed new gains in oil.
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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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