Crude Oil Updates... From Frank

[frawin]

April Front month Crude is trading at $80.60, down $1.275, April Natural gas is trading at $4.54, up $0.015.

Oil Declines on Forecast for U.S. Supply Gains, Dollar Rebound
For the complete article see below,

http://www.bloomberg.com/apps/news?pid=20601207&sid=aK4YEbo9yHvc

[frawin]

Oil Little Changed Before Report Forecast to Show Supply Gains

http://www.bloomberg.com/apps/news?pid=20601207&sid=ahY6VHuSl8MI

[frawin]

April Crude is trading flat this morning at $82.125.


Summary of Weekly Petroleum Data for the Week Ending March 5, 2010

U.S. crude oil refinery inputs averaged 13.9 million barrels per day during the
week ending March 5, 149 thousand barrels per day below the previous week's
average. Refineries operated at 80.7 percent of their operable capacity last
week. Gasoline production decreased last week, averaging 8.8 million barrels
per day. Distillate fuel production decreased last week, averaging 3.7 million
barrels per day.

U.S. crude oil imports averaged 8.5 million barrels per day last week, down 744
thousand barrels per day from the previous week. Over the last four weeks,
crude oil imports have averaged 8.8 million barrels per day, 367 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 806 thousand barrels per day. Distillate fuel imports
averaged 130 thousand barrels per day last week.

U.S. commercial crude oil inventories (excluding those in the Strategic
Petroleum Reserve) increased by 1.4 million barrels from the previous week. At
343.0 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 2.9 million barrels last week, and are above the upper limit of
the average range. Both finished gasoline inventories and blending components
inventories decreased last week. Distillate fuel inventories decreased by 2.2
million barrels, and are above the upper boundary of the average range for
this time of year. Propane/propylene inventories decreased by 1.5 million
barrels last week and are below the lower limit of the average range. Total
commercial petroleum inventories decreased by 5.3 million barrels last week,
and are above the upper limit of the average range for this time of year.

Total products supplied over the last four-week period has averaged 19.4
million barrels per day, up by 3.8 percent compared to the similar period last
year. Over the last four weeks, motor gasoline demand has averaged 8.9 million
barrels per day, up by 0.5 percent from the same period last year. Distillate 
fuel demand has averaged 3.7 million barrels per day over the last four weeks,
down by 4.1 percent from the same period last year. Jet fuel demand is 6.3
percent lower over the last four weeks compared to the same four-week period
last year.

[frawin]

OPEC to Keep Quota Unchanged With Oil Above $80, Survey Shows
I think OPEC know that the world economy remains very delicate and that higher oil prices could and would throw us into a deeper recession/depression.

See the full article below.
http://www.bloomberg.com/apps/news?pid=20601207&sid=ayjghi3i4WGg

[frawin]

April Crude is trading flat to up a little this morning.
See below:
Saudi’s Naimi Sees No Need to Alter OPEC Production
http://www.bloomberg.com/apps/news?pid=email_en&sid=aL27uz2NUjCU

[frawin]

The crude and products inventory comes out tomorrow, if there is much of a draw, Gasoline will be moving up in the near term.

Oil Gains the Most in Four Weeks as Dollar Falls Against Euro
http://www.bloomberg.com/apps/news?pid=email_en&sid=aWL10d_thzZQ

[frawin]

April Crude is trading up $0.80 at $82.50. Our recovery efforts do not need higher energy costs.


Oil Rises After OPEC Says Demand Rising, U.S. Pledges Low Rates
http://www.bloomberg.com/apps/news?pid=email_en&sid=a2dInmthhPnY

[frawin]

We are doing absolutely nothing in this country to improve the future energy supplies.


Oil Drops a Second Day as Dollar Rebound Cuts Investor Demand
http://www.bloomberg.com/apps/news?pid=email_en&sid=aRrOAd6GhFtE

[Diane Amberg]

We're part of a hydrogen fueling station chain that is being built up and down the east coast. UD has hydrogen buses.

[frawin]

May-10 Crude is trading at $80.925, down $0.675, April-10 Natural Gas is trading at $4.115, up $0.035.

Oil Little Changed as Rising Equities Temper Supply Concerns

http://www.bloomberg.com/apps/news?pid=20601207&sid=aqF_3aeKQ2q0