Better Fill up today

[greatguns]

WELCOME TO KANSAS!

[Diane Amberg]

Thanks!

[Dale Smith]

Diane,  If you read this, while in Howard, and have a chance to do so, I'd love for you to put a flower on your Grandmother Dessie's grave, for me.  I loved her dearly. 

[frawin]

Below is the weekly Petroleum Inventory report, unfortunately it is somewhat bullish and Crude oil is up considerably at this moment.
Frank

Summary of Weekly Petroleum Data for the Week Ending June 6, 2008

U.S. crude oil refinery inputs averaged 15.3 million barrels per day during the
week ending June 6, down 161 thousand barrels per day from the previous week's
average. Refineries operated at 88.6 percent of their operable capacity last
week. Gasoline production moved lower compared to the previous week, averaging
about 9.0 million barrels per day. Distillate fuel production decreased last
week, averaging nearly 4.5 million barrels per day.

U.S. crude oil imports averaged about 9.7 million barrels per day last week,
down 98 thousand barrels per day from the previous week. Over the last four
weeks, crude oil imports have averaged 9.4 million barrels per day, 819 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 about 1.2 million barrels per day. Distillate fuel imports
averaged127 thousand barrels per day last week.

U.S. commercial crude oil inventories (excluding those in the Strategic
Petroleum Reserve) decreased by 4.6 million barrels from the previous week. At
302.2 million barrels, U.S. crude oil inventories are at the lower boundary of
the average range for this time of year. Total motor gasoline inventories
increased by 1.0 million barrels last week, and are in the lower half of the
average range. Finished gasoline inventories remained unchanged last week while
gasoline blending components inventories increased during this same time.
Distillate fuel inventories increased by 2.3 million barrels, and are in the
lower half of the average range for this time of year. Propane/propylene
inventories increased by 0.5 million barrels last week but remain near the
bottom of the average range. Total commercial petroleum inventories increased by
0.3 million barrels last week, and are near the bottom of the average range for
this time of year.

Total products supplied over the last four-week period has averaged nearly 20.4
million barrels per day, down by 1.3 percent compared to the similar period last
year. Over the last four weeks, motor gasoline demand has averaged 9.3 million
barrels per day, down by 1.3 percent from the same period last year. Distillate
fuel demand has averaged 4.1 million barrels per day over the last four weeks,
up 0.7 percent from the same period last year. Jet fuel demand is 0.4 percent
higher over the last four weeks compared to the same four-week period last year.

[frawin]

July,front month, Crude Oil  closed up $5.07 at $136.38. Inventories were down and the longs bought alot of contracts. I am disappointed that Washington is doing absolutely nothing, or least that is what it appears on the surface. I would like to see a National Speed limit of 55MPH to start with.
Frank

[Tobina+1]

Frank; I'm not sure people are taking it as far as only 55 mph, but being on the road lately I have observed that people are starting to slow down.  I am!  (except when trying to get home ahead of the storms last week)

[W. Gray]

I filled up at 4.00.9 today.

A gasoline station in northeastern Colorado dropped the .9 a couple years ago.

If the price is supposed to be 4.00.9 he sells it at 4.01.

Says he has never received a complaint.

He makes an extra 2 cents on every 20 gallons pumped.

[Diane Amberg]

Dale, I read your message and I will place a flower for you. Grandma would be so pleased you thought of her.Thank you.

[frawin]

This may provide some relief for the short term. Hopefully steps will be taken for long term conservation.
Frank

Oil Falls on Dollar Gain, Report Saudi Arabia Will Boost Output

By Alexander Kwiatkowski



June 13 (Bloomberg) -- Crude oil fell as the dollar headed for its biggest weekly gain in almost three years, reducing the appeal of commodities, and on a report Saudi Arabia plans a ``sizeable'' increase in crude production.



Oil has fallen 2.3 percent this week as the dollar has risen against the euro, making dollar-denominated commodities more expensive for buyers in other currencies. Saudi Arabia is likely to announce higher oil production at a June 22 meeting with consumers, the Middle East Economic Survey reported today



``The dollar is still a key input,'' said Olivier Jakob, managing director of Petromatrix Gmbh in Zug, Switzerland. ``The market is becoming more and more dominated by financial flows.''



Crude oil for July delivery fell as much as $1.94, or 1.4 percent, to $134.80 a barrel on the New York Mercantile Exchange. It traded at $135a barrel at 12:02 p.m. London time. Futures reached a record $139.12 a barrel on June 6.



The Saudi government considers that current prices threaten the global economy and hurt the long-term interests of oil producers, said the weekly newsletter based in Cyprus, citing Ibrahim al-Muhanna, an adviser to Oil Minister Ali al-Naimi.



Al-Muhanna wouldn't comment on the possible actions to be taken by the kingdom, said MEES, which didn't cite the source of information for a likely production increase from Saudi Arabia.



Brent crude oil for July settlement fell as much as $1.50, or 1.1 percent, to $134.59 a barrel on London's ICE Futures Europe exchange. It traded at $134.62 at 11:39 a.m. local time. Prices climbed to a record $138.12 on June 6.



The July contract expires today. The more-active August contract was at $135.92 a barrel, down $1.33, at 11:44 a.m.



Gasoline Demand



The dollar traded at $1.5322 per euro at 11:44 a.m. in London, compared with $1.5439 in New York yesterday. The dollar has risen 2.5 percent this week, the most since June 2005.



Oil prices may fall next week because of rising U.S. fuel inventories and weakening gasoline demand, as consumers react to record prices, according to a Bloomberg News survey.



Fourteen of 29 analysts surveyed, or 48 percent, said prices will decline through June 20. Six of the respondents, or 21 percent, said oil will rise and nine forecast little change. Last week 64 percent said futures would fall.



U.S. gasoline supplies rose 998,000 barrels to 210.1 million barrels last week, the Energy Department said June 11.

[Diane Amberg]

Thanks Frank, I always enjoy reading your posting.  Dale, I put a pretty red rose with babies breath and a bit of fern on Grandma Dessie's grave and told her it was from you.