Petroleum Report: U.S. Demand Falls Near 2-Year Low Despite Tight Gas Inventories

Sumit Roy submits:InventoriesThe Department of Energy reported that in the week ending June 25, 2010, U.S. crude oil inventories decreased 2 million barrels, gasoline inventories increased 0.5 million barrels, distillate inventories increased 2.5 million barrels, and total petroleum inventories increased 3.6 million barrels. Though more bearish than analysts’ expectations, the figures were very much in line with the 5-year average.

Hard Assets Investor submits: By Sumit Roy

Hard Assets Investor submits: By Sumit Roy Price action signals that growth considerations dwarf IEA’s release of 60 mmbbl of oil from strategic petroleum reserves. The Department of Energy reported this morning that in the week ending July 1, 2011, U.S. crude oil inventories decreased by 0.9 million barrels, gasoline inventories decreased by 0.6 million barrels, distillate inventories decreased by 0.2 million barrels and total petroleum inventories increased by 0.5 million barrels.

Hard Assets Investor submits: By Sumit Roy Inventory data was overshadowed by a surprise OPEC meeting, as the market eyes a huge supply gap in the third quarter. The U.S. Department of Energy reported that in the week ending June 3, 2011, U.S. crude oil inventories decreased by 4.8 million barrels, gasoline inventories increased by 2.2 million barrels, distillate inventories increased by 0.8 million barrels and total petroleum inventories increased by 1.5 million barrels.

Sumit Roy submits:The Department of Energy reported that in the week ending July 23, 2010, US crude oil inventories decreased by 2.8 million barrels, gasoline inventories increased by 0.7 million barrels, distillate inventories increased by 2.1 million barrels, and total petroleum inventories increased 6.1 million barrels. Total petroleum inventories are now above the year ago level and at 10-year highs, while gasoline and distillate inventories are at or near record seasonal levels.

Sumit Roy submits:EnergyCrude oil prices plummeted 8.6% last week as global economic slowdown fears took center stage. It was only Monday that oil was trading as high as $79.38, but as the negative news mounted, oil kept slipping; prices fell in each of the last five sessions.

Hard Assets Investor submits: By Brad ZiglerReal-Time Monetary Inflation (Last 12 months): 0.7%The big news out of Washington this morning was about gasoline. According to the U.S. Energy Department's latest figures, gasoline production kept just slightly ahead of demand, while motor fuel inventories jumped unexpectedly.

Sumit Roy submits:The Department of Energy reported this morning that in the week ending January 14, 2011, U.S. crude oil inventories increased by 2.6 million barrels, gasoline inventories increased by 4.4 million barrels, distillate inventories increased by 1 million barrels, and total petroleum inventories increased by 2.4 million barrels. If the lost production from the temporary disruption in Alaska is added back in, the crude build would have been 5.2 million barrels.