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 1/30/08 For wk 1/25 2008 | ||||||||
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Highlights
The stock of crude oil rose 3.6 million barrels in the Jan. 25 week to 293.0 million. Stocks at the closely watched Cushing, Oklahoma refinery rose 0.1 million barrels to 15.8 million. Stocks of gasoline also rose 3.6 million barrels, to 223.9 million, but distillate stocks fell 1.5 million to 127.0 million barrels. The fall in distillates, a category that includes home heating oil, will likely limit the impact of today's data on oil prices. But oil prices did slip in immediate reaction to the results.
![[Chart]](chart.gif)
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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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