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Market Update : 
Crude Oil and Gasoline Inventories Gain
Author: 123jump.com Staff
123jump.com
Last Update: 10:56 AM EST January 18 2007



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U.S. commercial crude oil inventories jumped by 6.8 million barrels compared to the previous week. At 321.5 million barrels, U.S. crude oil inventories are above the upper end of the average range for this time of year. Total motor gasoline inventories rose by 3.5 million barrels last week, and are at the upper end of the average range. Distillate fuel inventories increased by 0.9 million barrels, and remain above the upper end of the average range for this time of year.

 
The following is the un-edited press release from the Energy Information Administration.


Summary of Weekly Petroleum Data for the Week Ending January 12, 2007

U.S. crude oil refinery inputs averaged 15.1 million barrels per day during the week ending January 12, down 502,000 barrels per day from the previous week''s average. Refineries operated at 87.9 percent of their operable capacity last week. Gasoline production declined last week compared to the previous week, averaging over 9.1 million barrels per day, while distillate fuel production decreased significantly, averaging 4.0 million barrels per day.

U.S. crude oil imports averaged nearly 11.1 million barrels per day last week, up nearly 1.6 million barrels per day from the previous week. Over the last four weeks, crude oil imports have averaged nearly 10.0 million barrels per day, or 73,000 barrels per day more than averaged over the same four-week period last year. Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged over 1.0 million barrels per day. Distillate fuel imports averaged 277,000 barrels per day last week.

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) jumped by 6.8 million barrels compared to the previous week. At 321.5 million barrels, U.S. crude oil inventories are above the upper end of the average range for this time of year. Total motor gasoline inventories rose by 3.5 million barrels last week, and are at the upper end of the average range.

Distillate fuel inventories increased by 0.9 million barrels, and remain above the upper end of the average range for this time of year. Increases were seen in both high-sulfur distillate fuel (heating oil) inventories and diesel fuel inventories (a combination of ultra-low-sulfur and low-sulfur). Total commercial petroleum inventories climbed by 9.0 million barrels last week, and are above the upper end of the average range for this time of year.

Total products supplied over the last four-week period has averaged over 20.2 million barrels per day, or 3.5% less than averaged over the same period last year. Over the last four weeks, motor gasoline demand has averaged nearly 9.2 million barrels per day, or 1.2 percent above the same period last year. Distillate fuel demand has averaged over 4.1 million barrels per day over the last four weeks, or 3.6 percent below the same period last year. Jet fuel demand is down 1.7 percent over the last four weeks compared to the same four-week period last year.


Available at:

http://www.eia.doe.gov/pub/oil_gas/petroleum/data_publications/weekly_petroleum_status_report/current/txt/wpsr.txt
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