Crude Oil Inventories
Posted by Mr. Danish FX on Wed, 01/16/2008 - 11:31am in
Crude Oil Inventories rose 4.26M barrels than the previous weeks -6.8M barrels. The Energy Information Administration’s Crude Oil Inventories gauges the weekly increase in barrels of commercial crude oil held in inventory by US firms. This level is known to influence the price of petroleum products, which can have an impact on inflation and other economic factors.
Gasoline Inventories rose 2.19M barrels and distillate inventories rose 1.15 M barrels as well. Utilization declined to 87.1% from 90.3% expectation. The data should be somewhat bearish for the oil complex.
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