Better Fill up today

[frawin]

The weekly Petroleum Data Report is out and the draw was not as much as forecast. Crude is trading at $94.70, up $0.525.


Summary of Weekly Petroleum Data for the Week Ending June 17, 2011
U.S. crude oil refinery inputs averaged about 15.3 million barrels per day during the week ending June 17, 409 thousand barrels per day above the previous week's average. Refineries operated at 89.2 percent of their operable capacity last week. Gasoline production increased last week, averaging 9.5 million barrels per day. Distillate fuel production was almost the same as last week, averaging 4.3 million barrels per day.
U.S. crude oil imports averaged 9.1 million barrels per day last week, up by 511 thousand barrels per day from the previous week. Over the last four weeks, crude oil imports have averaged just under 9.0 million barrels per day, 724 thousand barrels per day below the same four-week period last year. Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 867 thousand barrels per day. Distillate fuel imports averaged 122 thousand barrels per day last week.
U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 1.7 million barrels from the previous week. At 363.8 million barrels, U.S. crude oil inventories are above the upper limit of the average range for this time of year. Total motor gasoline inventories decreased by 0.5 million barrels last week and are near the upper limit of the average range. Finished gasoline inventories increased while blending components inventories decreased last week. Distillate fuel inventories increased by 1.2 million barrels last week and are in the upper limit of the average range for this time of year. Propane/propylene inventories increased by 1.8 million barrels last week and are below the lower limit of the average range. Total commercial petroleum inventories increased by 3.1 million barrels last week.
Total products supplied over the last four-week period have averaged about 19.1 million barrels per day, down by 2.7 percent compared to the similar period last year. Over the last four weeks, motor gasoline product supplied has averaged 9.3 million barrels per day, up by 0.9 percent from the same period last year. Distillate fuel product supplied has averaged about 3.7 million barrels per day over the last four weeks, down by 5.7 percent from the same period last year. Jet fuel product supplied is 2.1 percent higher over the last four weeks compared to the same four-week period last year.

[frawin]

July Crude settled at $95.41, up $1.235 on the day.

[frawin]

Sept crude settled at $99.81, up $0.74 on the day.

[Catwoman]

Looks like I'll need that Dillons reward card discount again, won't I...:-(...Prices are headed back up.

[frawin]

Cat, I think they may level out in this range. One of the big factors is the low value of the dollar. Once we get the US budget problems worked out the dollar should improve some.

[Catwoman]

Man, boy howdy, I hope so... ...With my kids being out and about continually, my gas bill is about through the roof! lol

[frawin]

September Crude is trading at $98.86, down $1.21. I think all of the markets are going to be volatile until the debt/budget problems are solved.

[srkruzich]

Man, boy howdy, I hope so... ...With my kids being out and about continually, my gas bill is about through the roof! lol

You pay for you kids gas usage? :O   LOL told mine when they drove, Gas, insurance and car note is yours.IFyou don't pay for it you don't drive! LOL

[Catwoman]

My kids are at the restricted use, Steve, and most of my gas usage is taking them to and from their various extra-curricular pursuits.  So, yes, Steve, I pay for the gas that goes into my car.  Duh!    

[redcliffsw]

Frank, do you really think they get the debt/budget problems solved or are they kicking the can down the road?