UPDATE 1-US crude stocks up 3 million bbls, gasoline falls-EIA Wed Mar 30, 2011 3:24pm GMT Print | Single Page [-] Text [+] Stocks Change Change Stocks Change Change ------ API ------ ------ EIA ------ 03/25/11 from from 03/25/11 from from pvs wk yr-ago pvs wk yr-ago Crude 356.4 5.7 4.5 355.7 2.9 1.5 Distillate 154.9 -0.1 7.4 153.3 0.7 8.7 Gasoline 220.4 -2.0 -2.8 217.0 -2.7 -7.8 Heating oil 37.3 -0.7 -3.5 35.2 -0.8 -6.5 RFG gasoline 0.9 -0.3 -0.9 1.1 -0.1 -0.2 Kerosene 40.7 2.2 -1.1 40.6 1.4 -1.4 Crude runs (bpd) 14.2 0.2 0.1 14.3 0.0 0.1 Refinery utilization (percent) 83.3 0.7 1.2 84.1 0.0 1.5 Products supplied (4-week moving average)-------------- 18.6 -0.7 -0.4 ----------------------------------------------------------------- * Crude stocks rise 2.95 million bbls to 355.71 mln * Cushing stocks rise 1.69 mln bbls to record high * Gasoline stocks fall 2.68 mln bbls to 217.04 mln * Distillates up 710,000 bbls at 153.33 mln * Refinery utilization unchanged at 84.1 pct (Adds table, details, comments) NEW YORK, March 30 (Reuters) - U.S. crude inventories rose a more-than-expected 2.95 million barrels last week and Cushing oil stocks rose to a record, but U.S. gasoline inventories fell sharply, according to a report from the Energy Information Administration on Wednesday. Domestic crude stocks rose 2.95 million barrels to 355.71 million barrels in the week to March 25, the report showed, more than the 1.8 million barrel build predicted in a Reuters poll of analysts. Inventories at the key Cushing, Oklahoma terminal -- where U.S. benchmark oil futures are delivered -- rose 1.69 million barrels to a record high 41.89 million barrels, surpassing the prior record of 40.3 million barrels earlier this month. Stocks of gasoline fell a more-than-expected 2.68 million barrels to 217.04 million barrels. Analysts had forecast a 1.9 million barrel draw. Gasoline inventories typically fall in spring as refineries complete seasonal maintenance and oil firms draw down winter gasoline inventories to make room for cleaner-burning summer blends. But the stocks have fallen by nearly 18 million barrels in the first four weeks of March, the biggest drawdown for the period since at least 1990. "The builds in Cushing are oil coming in from Canada and the Bakken (shale), which is bad for the WTI-Brent spread. You're going to see that widen," said Mark Kellstrom at Strategic Energy Research and Capital in New Jersey. Brent LCOc1 widened its advantage to NYMEX crude CLc1, trading $11 above the U.S. benchmark on Wednesday, up from $10.66 on Tuesday but still sharply off a record of $17 a barrel on March 1. CL-LCO1=R Crude imports rose 141,000 barrels a day to 9.09 million bpd. Distillate stocks rose 710,000 barrels to 153.33 million barrels, compared with analyst expectations of a 600,000 barrel draw. Refinery utilization was unchanged at 84.1 percent, compared with analyst expectations for 0.3 percentage point rise, the EIA said. Industry group American Petroleum Institute, in its own weekly data report released on Tuesday, said domestic crude stocks rose 5.7 million barrels last week, with gasoline stocks down 2 million barrels and distillates down 112,000 barrels. "The gasoline (numbers) looked quite supportive. After that, there was a large build in crude oil that started weighing on oil prices," said Phil Streible of Lind-Waldock in Chicago.
Exactly today's profile is looking like a perfect bell shaped distribution and 104.40 ish is the pivot. Simple play seems to be below 104 short and above 105 long.
http://english.aljazeera.net/news/middleeast/2011/03/2011330135615434966.html Syrian president fails to lift emergency laws in his first speech since security forces curbed anti-government protests.