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 6/11/08 For wk 6/6 2008 | ||||||||
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Highlights
Crude oil stocks were drawn down in the June 6 week, down 4.6 million barrels to 302.2 million, down 1.5 percent in the month for a year-on-year decline of 13.5 million. Helping to offset the draw down for oil markets is a 1.0 million barrel increase in gasoline stocks to 210.1 million and a 2.3 million rise in distillates to 114.0 million. Crude oil stocks may be down sharply from this time last year but not gasoline stocks which are up 3.4 percent and are above demand with is down 1.3 percent year-on-year. Refineries continue to operate at only moderate levels, at 88.6 percent of capacity in the latest week.
![[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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