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United States Oil ETF Message Board

  • fp718591 fp718591 Jan 29, 2013 7:27 PM Flag

    Heres API report, large buildup

    By Myra P. Saefong CLH3

    SAN FRANCISCO (MarketWatch) -- Crude-oil supplies rose more than expected for the week ended Jan. 25, and gasoline supplies unexpectedly climbed, according to data from the American Petroleum Institute issued late Tuesday. Crude supplies rose by 4.2 million barrels. Analysts polled by Platts were looking for a 2.5 million-barrel climb. Gasoline inventories added 2.4 million barrels, while distillate stocks were down 1.8 million barrels, the report from the trade group said. Analysts expect gasoline stocks to be unchanged, and forecast a fall of 1 million barrels in distillate supplies. The API data come ahead of the more closely watched U.S. Energy Information Administration report due Wednesday. Ahead of the API report, March crude /quotes/zigman/2291769 CLH3 -0.16% settled at $97.57 a barrel, up 1.2%.

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    • I was very surprised that crude went up +5.9M.....wasn't expecting
      such a huge number but crude rallied in the end with FOMC.

      I guess 100 is next point. Thurs is NFP, Unempl & ISM (the climax).
      Seriously thinking market will peak this weekend. Next week is earnings
      but anti-climax.

      Just my 2 cents.
      hero

      • 1 Reply to zsma188
      • The last 4 reports show we are above average, oil has been pumped extremely high with larger inventory then last year, but thiers nothing we can do about market malnipulation,,,,,,,,,,,,,,, U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 5.9 million barrels from the previous week. At 369.1 million barrels, U.S. crude oil inventories are well above the upper limit of the average range for this time of year. Total motor gasoline inventories decreased by 1.0 million barrels last week and are in the upper limit of the average range. Finished gasoline inventories increased while blending components inventories decreased last week. Distillate fuel inventories decreased by 2.3 million barrels last week and are in the lower half of the average range for this time of year. Propane/propylene inventories decreased by 3.5 million barrels last week, but remained well above the upper limit of the average range. Total commercial petroleum inventories increased by 2.0 million barrels last week.
        Total products supplied over the last four-week period have averaged about 18.3 million barrels per day, up by 0.5 percent from the same period last year. Over the last four weeks, motor gasoline product supplied has averaged over 8.3 million barrels per day, up by 3.0 percent from the same period last year. Distillate fuel product supplied has averaged 3.4 million barrels per day over the last four weeks, down by 6.3 percent from the same period last year. Jet fuel product supplied is 0.9 percent higher over the last four weeks compared to the same four-week period last year.

 
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