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PD Moderator	Message Posted: Mar 23, 2011 11:02:09 AM Ignore PD Report Abuse The Department of Energy released its weekly report on the condition of petroleum inventories in the United States today. Here are some highlights: Crude oil inventories increased by 2.1 million barrels to a total of 352.8 million barrels. At 352.8 million barrels, inventories are 1.5 million barrels above last year (0.4%) and are above average. Supply at NYMEX delivery point, Cushing, Oklahoma rose 0.2 million barrels to 40.2 million barrels this week. Gasoline inventories decreased 5.4 million barrels to 219.7 million barrels, likely as they drain the system of winter spec (high RVP) gasoline. At 219.7 million barrels, inventories are now 4.8 million barrels, or 2.2% lower than last year (last week that number... Visit GasBuddy Blog for full article

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Message Posted: Mar 23, 2011 11:02:09 AM

Ignore PD Report Abuse

The Department of Energy released its weekly report on the condition of petroleum inventories in the United States today.

Here are some highlights:

Crude oil inventories increased by 2.1 million barrels to a total of 352.8 million barrels. At 352.8 million barrels, inventories are 1.5 million barrels above last year (0.4%) and are above average. Supply at NYMEX delivery point, Cushing, Oklahoma rose 0.2 million barrels to 40.2 million barrels this week.

Gasoline inventories decreased 5.4 million barrels to 219.7 million barrels, likely as they drain the system of winter spec (high RVP) gasoline. At 219.7 million barrels, inventories are now 4.8 million barrels, or 2.2% lower than last year (last week that number...

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jtmalone Rookie Author Illinois Posts:21 Points:17,130 Joined:Apr 2011	Message Posted: Apr 26, 2011 2:07:41 PM Ignore jtmalone Report Abuse Jugmobile is right
us4usa Champion Author Missouri Posts:6,003 Points:1,115,215 Joined:May 2008	Message Posted: Mar 24, 2011 12:38:28 AM Ignore us4usa Report Abuse Supply and demand, anyone???????
judgemobile Champion Author Ohio Posts:7,585 Points:2,448,060 Joined:Nov 2005	Message Posted: Mar 24, 2011 12:16:26 AM Ignore judgemobile Report Abuse MORE OIL...but prices UP LESS OIL...but prices UP SAME OIL...but prices UP anyone but me see any PATTERN here ? Greed and speculation are the new supply and demand. Those weekly numbers, released every Wednesday morning, are almost as meaningless as how many Edsels were manufactured in a given year.
REDFINGER Champion Author Montreal Posts:1,380 Points:282,750 Joined:Dec 2010	Message Posted: Mar 24, 2011 12:06:47 AM Ignore REDFINGER Report Abuse I do not know what to say anymore....
BigEdPA Sophomore Author Pennsylvania Posts:208 Points:591,745 Joined:Apr 2010	Message Posted: Mar 24, 2011 12:00:07 AM Ignore BigEdPA Report Abuse Inventories up, but prices don't care
edgarCA Champion Author Oakland Posts:1,581 Points:241,770 Joined:Jun 2009	Message Posted: Mar 23, 2011 11:53:50 PM Ignore edgarCA Report Abuse ok
Ray_10589 Champion Author New York Posts:4,961 Points:1,185,910 Joined:May 2009	Message Posted: Mar 23, 2011 11:39:27 PM Ignore Ray_10589 Report Abuse yawn...
blueBMW480 Champion Author Nashville Posts:818,391 Points:843,665 Joined:Jan 2011	Message Posted: Mar 23, 2011 11:37:55 PM Ignore blueBMW480 Report Abuse They will make prices go up
clermont40miles Champion Author Cincinnati Posts:10,588 Points:1,774,820 Joined:Apr 2008	Message Posted: Mar 23, 2011 11:37:36 PM Ignore clermont40miles Report Abuse Supply & demand have little influence on price as compared to speculators. Stop the Wall St. madness.
mstearno Champion Author Dayton Posts:8,080 Points:1,734,140 Joined:Jan 2008	Message Posted: Mar 23, 2011 11:36:15 PM Ignore mstearno Report Abuse I love these guys
ron98146 Champion Author Seattle Posts:1,584 Points:968,180 Joined:Jun 2008	Message Posted: Mar 23, 2011 11:36:00 PM Ignore ron98146 Report Abuse just more numbers.
Ken2OD Champion Author Grand Rapids Posts:9,087 Points:1,974,865 Joined:Dec 2005	Message Posted: Mar 23, 2011 11:32:42 PM Ignore Ken2OD Report Abuse Every week, it's the same story. Do inventories ever decrease?
bills55 Champion Author San Diego Posts:2,207 Points:514,480 Joined:Sep 2009	Message Posted: Mar 23, 2011 11:27:09 PM Ignore bills55 Report Abuse goin up
bills55 Champion Author San Diego Posts:2,207 Points:514,480 Joined:Sep 2009	Message Posted: Mar 23, 2011 11:25:54 PM Ignore bills55 Report Abuse goin up
gmcgas Champion Author Atlanta Posts:5,968 Points:1,716,345 Joined:Mar 2004	Message Posted: Mar 23, 2011 11:24:30 PM Ignore gmcgas Report Abuse another waste of my tax dollars dept.
EssexAdri Champion Author Jacksonville Posts:1,149 Points:280,690 Joined:Jul 2010	Message Posted: Mar 23, 2011 11:11:37 PM Ignore EssexAdri Report Abuse "wasted Space of the Week"
Rednix Champion Author Miami Posts:6,173 Points:1,278,660 Joined:Jul 2009	Message Posted: Mar 23, 2011 11:08:19 PM Ignore Rednix Report Abuse I don't like the sound of this.
tomok Champion Author Portland Posts:33,088 Points:2,348,435 Joined:Aug 2006	Message Posted: Mar 23, 2011 11:06:30 PM Ignore tomok Report Abuse Crude oil inventories increased, Gasoline inventories decreased, Distillate inventories decreased, Refinery utilization rose, Production of ethanol increased and the price of fuel at the pump is TOO HIGH!
Marty S Veteran Author Cleveland Posts:345 Points:670,235 Joined:Mar 2004	Message Posted: Mar 23, 2011 11:04:01 PM Ignore Marty S Report Abuse In and out
danreino Champion Author Twin Cities Posts:8,368 Points:1,543,655 Joined:Mar 2008	Message Posted: Mar 23, 2011 10:56:53 PM Ignore danreino Report Abuse SSDW...Why do they put a report out when they dont do anything ?
TheSnowstorm Champion Author Montreal Posts:8,634 Points:1,916,705 Joined:June 2005	Message Posted: Mar 23, 2011 10:46:51 PM Ignore TheSnowstorm Report Abuse Prices still rising, next reason: back to summer blends.
abcdMA Champion Author Worcester Posts:7,937 Points:1,577,905 Joined:Nov 2008	Message Posted: Mar 23, 2011 10:39:10 PM Ignore abcdMA Report Abuse oil reserves up, gas reserves down, prices on both UP
DustyHorse Champion Author Virginia Posts:6,098 Points:1,393,795 Joined:Oct 2008	Message Posted: Mar 23, 2011 10:29:49 PM Ignore DustyHorse Report Abuse I'm sure the speculators will use this for justification to run up prices.
1988MR2guy Champion Author California Posts:7,464 Points:1,174,565 Joined:Oct 2009	Message Posted: Mar 23, 2011 10:25:36 PM Ignore 1988MR2guy Report Abuse HOW TO FIX THE COMMODITIES FUTURES SPECULATION PROBLEM 1. require that all sellers of futures contracts have the actual underlying commodity on hand in physical inventory, or be in the day-to-day business of drilling for it, mining it, growing it, etc. Enforce this by random on-site inspection. Violation will be a federal felony with mandatory minimum incarceration on the first offense. 2. require that all buyers of futures contracts have the physical ability to take actual delivery of the underlying commodity. Enforce this by random on-site inspection. Violation will be a federal felony with mandatory minimum incarceration on the first offense. 3. eliminate the practice known as "naked short-selling." 4. reinstate the up-tick rule for all short sales. 5. reinstate the recently repealed Glass Steagal act and get bankers out of the trading business, and traders out of the banking business. And one more point: 6. require that all 'long' positions in commodities futures be transacted in the CASH ACCOUNT and not in the MARGIN ACCOUNT. Want to buy a contract? Fine - pay cash for it - all of it. And along with this, require that all short positions be "against the box" in the CASH ACCOUNT. If you don't know what "against the box" means, please look it up! Please note that the above provisions do NOT make "speculation illegal." What they do is to return the commodities markets and their exchanges to the original purpose: to provide a market and a liquidity to people and companies involved in the day-to-day production of the commodity.
arcaneradio Champion Author Michigan Posts:2,542 Points:494,855 Joined:Dec 2010	Message Posted: Mar 23, 2011 10:25:11 PM Ignore arcaneradio Report Abuse SSDD
YellowDucky Champion Author St. Louis Posts:1,563 Points:434,210 Joined:Oct 2010	Message Posted: Mar 23, 2011 10:21:21 PM Ignore YellowDucky Report Abuse Again, this report means nothing to me.
Wierbe Champion Author Cincinnati Posts:3,767 Points:1,122,040 Joined:Apr 2006	Message Posted: Mar 23, 2011 10:20:45 PM Ignore Wierbe Report Abuse Oh, great. More numbers about which I can do nothing and which do nothing for me. Where are the constructive action steps that will lead us toward energy independence?
ericbcire Champion Author Nevada Posts:4,540 Points:1,270,635 Joined:Aug 2009	Message Posted: Mar 23, 2011 10:19:47 PM Ignore ericbcire Report Abuse Oil supplies keep piling up week after week. There's obviously no disruptions whatsoever caused by the Middle East. Prices need to come crashing down.
PoohMcGoo Champion Author Alabama Posts:3,077 Points:803,385 Joined:Dec 2010	Message Posted: Mar 23, 2011 10:18:58 PM Ignore PoohMcGoo Report Abuse More speculation..
hamdriver Champion Author Lansing Posts:3,479 Points:1,380,125 Joined:Feb 2008	Message Posted: Mar 23, 2011 10:16:42 PM Ignore hamdriver Report Abuse Prove it
4warned Champion Author Michigan Posts:5,814 Points:2,165,585 Joined:Nov 2006	Message Posted: Mar 23, 2011 10:15:57 PM Ignore 4warned Report Abuse This just tells us oil is charging to much and we can do little about it no matter how hard we try.
Vetteblu Champion Author Denver Posts:2,685 Points:782,770 Joined:Oct 2010	Message Posted: Mar 23, 2011 10:11:52 PM Ignore Vetteblu Report Abuse It's just showing GBS at work to screw you, me and everyone!
bullfrog69 Champion Author Texas Posts:2,304 Points:836,510 Joined:Nov 2009	Message Posted: Mar 23, 2011 10:10:31 PM Ignore bullfrog69 Report Abuse Thank you old lord for our weekly propaganda report!
tarheelcoastie Champion Author Greensboro Posts:5,211 Points:1,114,080 Joined:Jan 2009	Message Posted: Mar 23, 2011 10:00:26 PM Ignore tarheelcoastie Report Abuse Good Reporting! Thanks!
AKmailman Champion Author Alaska Posts:5,648 Points:1,561,240 Joined:Jul 2004	Message Posted: Mar 23, 2011 9:59:58 PM Ignore AKmailman Report Abuse DOE what a waste !!!
tritonolympian Sophomore Author Cleveland Posts:178 Points:55,995 Joined:Mar 2011	Message Posted: Mar 23, 2011 9:58:30 PM Ignore tritonolympian Report Abuse that's almost as many barrels as I use in a week!
booboota2 Rookie Author Milwaukee Posts:69 Points:6,980 Joined:Mar 2011	Message Posted: Mar 23, 2011 9:58:18 PM Ignore booboota2 Report Abuse Ethanol SUCKS!
darkknight1 Champion Author Winston-Salem Posts:4,350 Points:898,760 Joined:Nov 2010	Message Posted: Mar 23, 2011 9:57:01 PM Ignore darkknight1 Report Abuse What a waste to tell us this. It does nothing for us consumers.
dl5nelson Rookie Author Fort Worth Posts:19 Points:116,445 Joined:Mar 2011	Message Posted: Mar 23, 2011 9:51:45 PM Ignore dl5nelson Report Abuse No matter what..prices are still rising!!
mmene Champion Author Houston Posts:4,347 Points:938,970 Joined:May 2008	Message Posted: Mar 23, 2011 9:42:38 PM Ignore mmene Report Abuse Not much of great interest here.
Zankou Champion Author Pennsylvania Posts:1,515 Points:808,440 Joined:Dec 2008	Message Posted: Mar 23, 2011 9:37:37 PM Ignore Zankou Report Abuse Who cares, no matter how much gas we have doesn't seem to lower the price??
MaxCO2 All-Star Author Washington Posts:503 Points:163,320 Joined:Mar 2011	Message Posted: Mar 23, 2011 9:35:57 PM Ignore MaxCO2 Report Abuse This might be of interest to a stockbroker, but certainly not to me.
forderjunk Champion Author Maine Posts:10,643 Points:2,175,560 Joined:Sep 2005	Message Posted: Mar 23, 2011 9:33:56 PM Ignore forderjunk Report Abuse useless weekly report.
walkingtall Champion Author Toronto Posts:4,014 Points:1,124,605 Joined:Nov 2004	Message Posted: Mar 23, 2011 9:30:20 PM Ignore walkingtall Report Abuse doesn't me and my vechile.
Bleeder Champion Author Virginia Posts:8,038 Points:1,701,125 Joined:Jan 2008	Message Posted: Mar 23, 2011 9:30:01 PM Ignore Bleeder Report Abuse We have stopped producing gas to swap over to a summer blend? Sure, that sounds like a good reason to keep prices inflated. What the heck is going on here?
Focus2 Champion Author Illinois Posts:7,896 Points:1,920,520 Joined:Mar 2006	Message Posted: Mar 23, 2011 9:25:49 PM Ignore Focus2 Report Abuse stick around and you can read anything you want or don't want to hear.
benjy Champion Author Chicago Posts:8,609 Points:1,791,460 Joined:Nov 2003	Message Posted: Mar 23, 2011 9:20:55 PM Ignore benjy Report Abuse zzzzzzzzzz.........
RockCity Champion Author Denver Posts:7,926 Points:1,430,035 Joined:Mar 2009	Message Posted: Mar 23, 2011 9:19:06 PM Ignore RockCity Report Abuse Wars & rumors of wars, big oil spills, pirates gone wild, and our inventories are awash in crude, but the price continues to run amuck. Yep, just like our patriot leaders tell us, it's those darn unions causing all the fuss, perhaps.
camel1 Champion Author Minnesota Posts:8,280 Points:2,268,565 Joined:Jul 2006	Message Posted: Mar 23, 2011 9:15:23 PM Ignore camel1 Report Abuse More B.S. material to help speculators hype their forecast shortages and higher prices
DEG Champion Author Las Vegas Posts:17,635 Points:3,497,630 Joined:Jul 2003	Message Posted: Mar 23, 2011 9:15:16 PM Ignore DEG Report Abuse The useless weekly report.