CL Redux
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June 2, 2011, 11:15 a.m. EDT
Oil turns lower after EIA inventory report
SAN FRANCISCO (MarketWatch) -- Crude-oil futures turned red Thursday after an inventory report showed a higher-than-expected increase in oil supplies. Crude for July delivery (NEW:CLN11) declined 72 cents, or 0.8%, to $99.52 a barrel on the New York Mercantile Exchange. The Energy Information Administration reported an increase of 2.9 million barrels of oil in the week ended May 27. Analysts polled by Platts had expected a decrease around 1.9 million barrels. The EIA also reported an increase of 2.6 million barrels for gasoline inventories, and a decrease of 1 million for stockpiles of distillates. The analysts surveyed by Platts had expected gasoline inventories to rise 1.2 million barrels and distillates to decline 550,000 barrels.
Oil turns lower after EIA inventory report
SAN FRANCISCO (MarketWatch) -- Crude-oil futures turned red Thursday after an inventory report showed a higher-than-expected increase in oil supplies. Crude for July delivery (NEW:CLN11) declined 72 cents, or 0.8%, to $99.52 a barrel on the New York Mercantile Exchange. The Energy Information Administration reported an increase of 2.9 million barrels of oil in the week ended May 27. Analysts polled by Platts had expected a decrease around 1.9 million barrels. The EIA also reported an increase of 2.6 million barrels for gasoline inventories, and a decrease of 1 million for stockpiles of distillates. The analysts surveyed by Platts had expected gasoline inventories to rise 1.2 million barrels and distillates to decline 550,000 barrels.
US crude and gasoline stocks rise in week-EIA
Thu Jun 2, 2011 3:29pm GMT
http://af.reuters.com/article/energyOilNews/idAFN0225957920110602
Crude stocks rise 2.88 mln bbls to 373.8 mln
* Cushing stocks off 159,000 bbls at 39.9 mln
* Gasoline stocks up 2.55 mln bbls at 212.3 mln
* Distillates dip 976,000 bbls to 140.1 mln
* Refinery utilization off 0.3 pct point at 86 pct
NEW YORK, June 2 (Reuters) - U.S. crude oil and gasoline stocks rose last week as crude imports increased, according to a weekly report from the Energy Information Administration on Thursday.
Domestic crude stocks unexpectedly rose 2.88 million barrels in the week to May 27 to 373.8 million barrels, the report showed, compared with expectations for a 1.3 million barrel decline in a Reuters poll of analysts.
Crude imports rose 286,0000 barrels a day to 9.48 million bpd.
Stocks of gasoline rose 2.55 million barrels to 212.28 million barrels.That compared with expectations for a smaller 800,000 barrel build.
<b> EIA data showed domestic gasoline demand fell in the past four weeks by0.5 percent, on average, versus the same period of 2010. </b>
<< this is surpirse, this gasoline usage drop compared to 2010 is Bearish for OIL price in medium term time frame>>
Distillate stocks fell 976,000 barrels to 140.1 million barrels,
compared with an
Thu Jun 2, 2011 3:29pm GMT
http://af.reuters.com/article/energyOilNews/idAFN0225957920110602
Crude stocks rise 2.88 mln bbls to 373.8 mln
* Cushing stocks off 159,000 bbls at 39.9 mln
* Gasoline stocks up 2.55 mln bbls at 212.3 mln
* Distillates dip 976,000 bbls to 140.1 mln
* Refinery utilization off 0.3 pct point at 86 pct
NEW YORK, June 2 (Reuters) - U.S. crude oil and gasoline stocks rose last week as crude imports increased, according to a weekly report from the Energy Information Administration on Thursday.
Domestic crude stocks unexpectedly rose 2.88 million barrels in the week to May 27 to 373.8 million barrels, the report showed, compared with expectations for a 1.3 million barrel decline in a Reuters poll of analysts.
Crude imports rose 286,0000 barrels a day to 9.48 million bpd.
Stocks of gasoline rose 2.55 million barrels to 212.28 million barrels.That compared with expectations for a smaller 800,000 barrel build.
<b> EIA data showed domestic gasoline demand fell in the past four weeks by0.5 percent, on average, versus the same period of 2010. </b>
<< this is surpirse, this gasoline usage drop compared to 2010 is Bearish for OIL price in medium term time frame>>
Distillate stocks fell 976,000 barrels to 140.1 million barrels,
compared with an
