The US Energy Information Agency reported another build in fuel supplies last week on low demand and high production. If crude supplies continue on this trajectory another few weeks, they may hit record levels. And lower heating needs from the fast-approaching Spring mean that diesel prices are indeed close to the parity with gasoline I mentioned (more…)
Posts Tagged ‘inventories’
US Oil Supplies Climb Further – Records May be Tested
Wednesday, March 18th, 2009Natural Gas Storage Climbs Even Higher Versus Last Year
Thursday, February 26th, 2009
Today’s weekly US Energy Information Agency (EIA) natural gas report showed that US storage fell only 101 billion cubic feet (bcf) (which is 30% below normal). This builds on the high inventory levels I talked about last week to an even higher level of (more…)
Low oil demand keeps US inventories strong
Wednesday, December 3rd, 2008
Today’s weekly EIA oil report shows that lower demand keeps our inventories at levels we can live with. While key products inventories gasoline, distillates and propane are all below their five-year average range, their demand is estimated to be down 3.6%, 8.5%, and 14.5% below last year’s levels, respectively. Gasoline and diesel pump prices fell at a slower rate this past week to $1.80 and $2.74 today, but they appear to have at least a few more pennies to go before (more…)