2012 Economic Calendar
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EIA Petroleum Status Report
Released On 4/18/2012 10:30:00 AM For wk4/13, 2012
PriorActual
Crude oil inventories (weekly change)2.8 M barrels3.9 M barrels
Gasoline (weekly change)-4.3 M barrels-3.7 M barrels
Distillates (weekly change)-4.0 M barrels-2.9 M barrels

Highlights
Oil inventories remain very heavy, at 369.0 million barrels in the April 13 week to hold in the upper limit of range. The weekly 3.9 million barrel increase is a sizable build and the fourth straight. Refineries are operating at no more than a moderate rate which is keeping down inventories of gasoline, which however remain in the upper limit of range, and of distillates where inventories are in the middle range. Improvement in demand is another factor holding down inventories of gasoline and distillates with year-on-year readings for both now showing only small contraction. Oil, near $104, has moved slightly higher following today's report.

Definition
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
 
[Chart]
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.
Data Source: Haver Analytics
 

 

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