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 1/9/08 For wk 1/4 2008 | ||||||||
| ||||||||
Highlights
Crude oil stocks fell 6.7 million barrels in the Jan. 4, a steep drawdown that is offset at least in part by a 0.2 percent rise at the Cushing, Oklahoma refinery and gains for both distillates, up 1.5 million barrels, and gasoline, up 5.3 million barrels. Refineries are picking up production, operating at 91.3 percent of capacity in the week. Oil was slightly lower on the day, $96 when before the data were released.
![[Chart]](chart.gif)
|
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. |
powered by
![[Econoday]](../../../../../../../../../images/logo.gif){kind=logo}