(STOCKS LISTED IN THOUSANDS OF BBL) CURRENT WEEK YEAR AGO PREV WK CHANGES 04/17/09 04/18/08 04/10/09 Ref % Operated - - 82.1 87.7 79.9 Ttl Mogas Stocks 107 218,549 213,489* 218,442 Distillate Stocks 458 142,781 109,005* 142,323 Resid Fuel Stocks 634 36,578 38,981 35,944 ** Crude Imports 1,814 10,247 9,732 8,433 Crude Oil Stocks -1,008 370,239 318,733 371,247 **-Thousands Of Barrels Per Day *-Revised
June crude oil futures are up about 40c after the API reported a surprise draw on oil inventories for the week ended April 17. None of the 13 analysts surveyed by Dow Jones predicted a draw, though the definitive report from the EIA will not come out until Wednesday. June crude trades at $49.07/bbl, up 56c on the day. May futures expired at the end of Nymex pit trading, missing out on the post-API action.
[Dow Jones]--US crude oil stocks rose 3.9 mln bbls, at the high end of expectations, and remained at their highest level since Sep 1990, - while gasoline stocks rose 800,000 bbls, - Distillate stocks rose 2.7 mln bbls, counter to expectations for a drawdown - and refiners boosted operations by 3 percentage points, much higher than expected. Analysts surveyed by Dow Jones Newswires expected crude oil stocks to rise by 2.5 mln bbls, with forecasts ranging from a gain of 1 mln bbls to 4 mln bbls. Gasoline stocks were expected to show a drop of 300,000 bbls, with forecasts ranging from a fall of 1.1 mln bbls to a rise of 2.2 mln bbls. Distillate stocks (diesel/heating oil) were expected to fall by 600,000 bbls, with forecasts ranging from a draw of 1.8 mln bbls to a rise of 2 mln bbls. Refinery runs were expected to rise by 0.7 percentage point. API said Tue crude stocks fell 1.008 mln bbls, while gasoline stocks rose 107,000 bbls. Distillates fell 458,000 bbls, and refineries lifted operations by 2.2 percentage points.
NEW YORK (Dow Jones)--U.S. crude-oil inventories in the week ended April 17 rose more than analysts' expectations, according to data released Wednesday by the U.S. Department of Energy. Crude stockpiles rose 3.9 million barrels to 370.6 million barrels, the department's Energy Information Administration said in its weekly report. That compared with an average forecast of a 2.5-million-barrel build in a Dow Jones Newswires survey of analysts. Gasoline stockpiles rose more than 800,000 barrels to 217.3 million barrels, compared with an average survey estimate of a 300,000-barrel draw. Distillate stockpiles rose 2.7 million barrels to 142.3 million barrels, compared with analysts' forecasts of a 600,000-barrel draw. Refinery use rose 3.0 percentage points to 83.4% of capacity. Analysts had expected a 0.7-percentage-point gain.
Short @ 48.50 going to add more if we go up. going to hold onto this one, hopefully we break out below 47.80 on the next dip.