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 10/1/08 For wk 9/26 2008 | ||||||||
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Highlights
Crude stocks rose 4.3 million barrels to 294.5 million in the Sep. 26 week, a result that tripped an immediate fall in oil prices. Gasoline stocks were also higher, up 0.9 million barrels though distillates were down 2.3 million. Refineries continue to show the effects of Hurricanes Gustav and Ike, operating at only 72.3 percent of capacity in the 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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