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 11/19/08 For wk 11/14 2008 | ||||||||
| ||||||||
Highlights
Crude oil stocks rose 1.6 million barrels in the Nov. 14 week to 313.5 million. Stocks of gasoline were also higher, up 0.5 million barrels, though stocks of distillates, which include heating fuel, fell 1.5 million barrels. Refineries, operating at a moderate 84.9 percent of capacity, cut back on gasoline output but increased the output of distillates, stocks for which are 5.7 percent lower than a year ago. There was no significant reaction to the results.
![[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}