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Crude inventories surge, gasoline stocks tighten as demand rises: EIA

GasBuddy Blog -- The Energy Information Administration released its weekly report on the status of petroleum inventories in the United States today.

Here are some highlights:

CRUDE INVENTORIES:
Crude oil inventories increased by 5.9 million barrels to a total of 369.1 million barrels. At 369.1 million barrels, inventories are 30.1 million barrels above last year (8.9%) and are above the upper limit of the average range.

GASOLINE INVENTORIES:
Gasoline inventories decreased by 1.0 million barrels to 232.3 million barrels. At 232.3 million barrels, inventories are up 2.2 million barrels, or 0.9% higher than last year. Here's how individual regions and their gasoline inventory fared last week: East Coast (+1.3mb); Midwest...

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Submitted Jan 30, 2013 By: PD

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OldMan322 Champion Author Illinois Posts:5,150 Points:1,593,765 Joined:Jul 2008	Message Posted: Jan 31, 2013 8:20:13 AM Ignore OldMan322 Report Abuse Same oh, same oh
Tommyguns45 Sophomore Author Illinois Posts:214 Points:132,045 Joined:Feb 2012	Message Posted: Jan 31, 2013 7:50:48 AM Ignore Tommyguns45 Report Abuse Any kind of report on oil is a reason for them to raise it, then we go back to using less and they drop it again. The export of our oil and the up coming natural gas should be banned. Sale all the coal they want to China
Hemi3tc Veteran Author Vancouver Posts:283 Points:283,935 Joined:Feb 2012	Message Posted: Jan 31, 2013 7:19:14 AM Ignore Hemi3tc Report Abuse Still able to export. In total, U.S. refineries exported 3.1 million barrels per day of oil and products.
12mpgnavigator Champion Author Seattle Posts:2,774 Points:650,935 Joined:Jun 2009	Message Posted: Jan 31, 2013 6:51:44 AM Ignore 12mpgnavigator Report Abuse yawn
jimraehl Champion Author Utah Posts:7,059 Points:1,635,615 Joined:Sep 2008	Message Posted: Jan 31, 2013 6:01:53 AM Ignore jimraehl Report Abuse Standard report.
prcoqui Champion Author Maryland Posts:3,950 Points:1,673,200 Joined:Dec 2006	Message Posted: Jan 31, 2013 5:49:57 AM Ignore prcoqui Report Abuse Inventories has nothing to do with price.
Chem60 Champion Author Tallahassee Posts:3,814 Points:812,075 Joined:Oct 2010	Message Posted: Jan 31, 2013 5:32:49 AM Ignore Chem60 Report Abuse Lots of crude, but all the refineries are either closed or barely producing gasoline.
bbreff Champion Author Atlanta Posts:9,843 Points:2,567,440 Joined:Jun 2005	Message Posted: Jan 31, 2013 5:32:24 AM Ignore bbreff Report Abuse The EIA - a waste of federal taxpayer money.
fordfan1 Champion Author Indiana Posts:9,087 Points:1,890,040 Joined:Jul 2007	Message Posted: Jan 31, 2013 5:32:05 AM Ignore fordfan1 Report Abuse These latest huge price spikes at the pump are solid proof that big oil is ran on Greed and Greed alone!!!! It does not matter how we consumers try to save on using gas and how high the supply goes the prices just keep going up!!!!!
KentsterPA Champion Author Pennsylvania Posts:1,697 Points:548,900 Joined:Aug 2011	Message Posted: Jan 31, 2013 5:31:15 AM Ignore KentsterPA Report Abuse And the price keeps going up.
wegman Champion Author Twin Cities Posts:7,804 Points:2,087,615 Joined:Jun 2001	Message Posted: Jan 31, 2013 5:30:16 AM Ignore wegman Report Abuse Something doesn't seem right here. We have LOTS of crude, not so much for the refined products. And with a 55 cent jump is less than three weeks, I'm wondering what ripples from the national disaster that was Election Day 2012 is having in the short term.
pitamon Champion Author Philadelphia Posts:4,899 Points:1,825,385 Joined:Sep 2004	Message Posted: Jan 31, 2013 5:30:01 AM Ignore pitamon Report Abuse Because the refineries and Big Oil are greedy.
nb52 Champion Author Grand Rapids Posts:7,775 Points:1,545,875 Joined:Nov 2008	Message Posted: Jan 31, 2013 5:29:50 AM Ignore nb52 Report Abuse Oh those overpaid EIA bureaucrats.
2parrots Champion Author Massachusetts Posts:1,551 Points:345,315 Joined:May 2012	Message Posted: Jan 31, 2013 5:29:15 AM Ignore 2parrots Report Abuse in the last 2 days prices here have gone up between 6c & 20c at stations on my route to work
Jeffro61 Champion Author Cleveland Posts:2,267 Points:2,284,895 Joined:Oct 2005	Message Posted: Jan 31, 2013 5:27:46 AM Ignore Jeffro61 Report Abuse That tells me the refineries are cutting back on production to tighten the market.
mandoid Champion Author Colorado Springs Posts:7,302 Points:1,526,220 Joined:May 2008	Message Posted: Jan 31, 2013 5:27:44 AM Ignore mandoid Report Abuse we are over 3 bucks a gallon here
Clayton2000 Champion Author South Carolina Posts:2,404 Points:489,230 Joined:Oct 2008	Message Posted: Jan 31, 2013 5:26:57 AM Ignore Clayton2000 Report Abuse Ok
OutsideCat All-Star Author Maine Posts:721 Points:1,296,570 Joined:Mar 2007	Message Posted: Jan 31, 2013 5:26:28 AM Ignore OutsideCat Report Abuse up a few cents overnight
keithyoon1977 Champion Author Virginia Posts:1,909 Points:494,740 Joined:Dec 2011	Message Posted: Jan 31, 2013 5:26:12 AM Ignore keithyoon1977 Report Abuse ok
kobes1 Champion Author Florida Posts:2,487 Points:556,635 Joined:Aug 2011	Message Posted: Jan 31, 2013 5:24:09 AM Ignore kobes1 Report Abuse Greed baby
WonderfulMI Champion Author Michigan Posts:11,642 Points:1,785,935 Joined:Jun 2008	Message Posted: Jan 31, 2013 5:23:52 AM Ignore WonderfulMI Report Abuse Gotta keep prices high if they want to make big bucks.
Ferdman17 Champion Author Albany Posts:1,283 Points:373,560 Joined:Feb 2012	Message Posted: Jan 31, 2013 5:22:55 AM Ignore Ferdman17 Report Abuse How is it the crude inventorys are still so high and gas inventories are still so low. Price manipulation
Tommy4Wheel Champion Author Wilmington Posts:32,902 Points:3,104,595 Joined:Apr 2004	Message Posted: Jan 31, 2013 5:22:54 AM Ignore Tommy4Wheel Report Abuse Daily BS!!
walkerms1 All-Star Author Albany Posts:960 Points:159,900 Joined:Sep 2012	Message Posted: Jan 31, 2013 5:22:47 AM Ignore walkerms1 Report Abuse Invest in oil futures and you can be rich too!
tekguy All-Star Author Pittsburgh Posts:677 Points:1,104,070 Joined:Aug 2005	Message Posted: Jan 31, 2013 5:22:06 AM Ignore tekguy Report Abuse greed
jppezz Champion Author New Mexico Posts:8,586 Points:1,691,585 Joined:Jun 2008	Message Posted: Jan 31, 2013 5:21:08 AM Ignore jppezz Report Abuse Price manipulation and greed.
Hazelnut Champion Author Greensboro Posts:3,183 Points:937,375 Joined:Sep 2003	Message Posted: Jan 31, 2013 5:20:15 AM Ignore Hazelnut Report Abuse 1 million barrels is just a smallest dent in the stockpile. Pure speculation is rampant here.
Badmoon Champion Author Massachusetts Posts:8,303 Points:1,650,515 Joined:Oct 2008	Message Posted: Jan 31, 2013 5:19:22 AM Ignore Badmoon Report Abuse The closing of the Hess refinery causing price spike.
Sneakers55 Champion Author Houston Posts:51,286 Points:2,142,950 Joined:Nov 2005	Message Posted: Jan 31, 2013 5:18:35 AM Ignore Sneakers55 Report Abuse On Jan 31, 2013 4:37:32 AM, geneo56 wrote: >What do you expect from the nations greediest industry? There are a lot of other industries that are greedier than Big Oil. The only thing is they're not the size of Big Oil.
RichWLIN Champion Author Indiana Posts:4,089 Points:637,890 Joined:Jun 2011	Message Posted: Jan 31, 2013 5:17:55 AM Ignore RichWLIN Report Abuse More speculation fodder.
Ringmaster2008 Champion Author Ontario Posts:7,573 Points:1,163,560 Joined:Apr 2008	Message Posted: Jan 31, 2013 5:17:35 AM Ignore Ringmaster2008 Report Abuse OK
sydb7 Champion Author Atlanta Posts:3,557 Points:1,919,005 Joined:Mar 2003	Message Posted: Jan 31, 2013 5:17:21 AM Ignore sydb7 Report Abuse Lies, damn lies, then there are statistics!
bby Champion Author Twin Cities Posts:5,719 Points:1,020,945 Joined:Nov 2009	Message Posted: Jan 31, 2013 5:16:04 AM Ignore bby Report Abuse Ok
NJColt Champion Author New Jersey Posts:12,635 Points:2,642,010 Joined:Aug 2005	Message Posted: Jan 31, 2013 5:15:37 AM Ignore NJColt Report Abuse They are so full of bull its a joke. We talk about so much of a glut and overnight we are short.
forderjunk Champion Author Maine Posts:10,643 Points:2,172,960 Joined:Sep 2005	Message Posted: Jan 31, 2013 5:15:15 AM Ignore forderjunk Report Abuse same old excuse to raise prices
nstrdnvstr Champion Author Twin Cities Posts:36,845 Points:3,983,980 Joined:May 2001	Message Posted: Jan 31, 2013 5:14:24 AM Ignore nstrdnvstr Report Abuse Gas prices went up 20 cents here this past week. Maybe this will help bring it back down.
bikerWI Champion Author Milwaukee Posts:1,413 Points:876,510 Joined:Apr 2010	Message Posted: Jan 31, 2013 5:14:07 AM Ignore bikerWI Report Abuse Not enough refineries.
dar 1 Champion Author Michigan Posts:5,888 Points:445,940 Joined:Jan 2005	Message Posted: Jan 31, 2013 5:13:40 AM Ignore dar 1 Report Abuse Springs a coming........
76chevy Champion Author Toledo Posts:3,992 Points:770,140 Joined:Jun 2010	Message Posted: Jan 31, 2013 5:13:12 AM Ignore 76chevy Report Abuse ok
RocketGeek Champion Author Grand Rapids Posts:10,587 Points:2,107,410 Joined:May 2005	Message Posted: Jan 31, 2013 5:12:49 AM Ignore RocketGeek Report Abuse I don't seem to be able to control it, so whatever...
dhawk24 Champion Author Maine Posts:7,795 Points:1,592,510 Joined:Jul 2008	Message Posted: Jan 31, 2013 5:12:40 AM Ignore dhawk24 Report Abuse We need more refineries to keep up with the crude inventories.
alphanyr Champion Author Connecticut Posts:4,820 Points:674,775 Joined:Apr 2011	Message Posted: Jan 31, 2013 5:12:26 AM Ignore alphanyr Report Abuse Game to raise retail
sawdust1825 All-Star Author Illinois Posts:837 Points:435,680 Joined:Sep 2011	Message Posted: Jan 31, 2013 5:11:33 AM Ignore sawdust1825 Report Abuse Prices are being manipulated again.
subnuke Champion Author Atlanta Posts:7,498 Points:1,507,415 Joined:Sep 2008	Message Posted: Jan 31, 2013 5:11:23 AM Ignore subnuke Report Abuse stop with the greed talk - refineries are shifting to summer blend gasolines that dear leader obuma demands
mrjames1818 Champion Author New Jersey Posts:1,540 Points:1,997,120 Joined:Mar 2004	Message Posted: Jan 31, 2013 5:11:09 AM Ignore mrjames1818 Report Abuse Give me a break - law of supply and demand doesn't exist in the oil industry - price manipulation does
Zuman Champion Author New York Posts:6,159 Points:1,897,705 Joined:May 2005	Message Posted: Jan 31, 2013 5:11:06 AM Ignore Zuman Report Abuse Just more crap.
heartbroken2010 Champion Author Ottawa Posts:4,339 Points:896,560 Joined:Aug 2010	Message Posted: Jan 31, 2013 5:10:50 AM Ignore heartbroken2010 Report Abuse i think this is called " dipping" , Read: pickpocketing
JLSindy Champion Author Cleveland Posts:3,486 Points:672,290 Joined:Aug 2005	Message Posted: Jan 31, 2013 5:10:20 AM Ignore JLSindy Report Abuse Petrock has it figured out! Prices have not just risen here in NE Ohio they can escalate almost every several hours!!!!
sappie Champion Author Massachusetts Posts:3,496 Points:584,870 Joined:Jul 2010	Message Posted: Jan 31, 2013 5:10:01 AM Ignore sappie Report Abuse greed thats all.
isem Champion Author Missouri Posts:1,921 Points:422,210 Joined:Feb 2012	Message Posted: Jan 31, 2013 5:09:16 AM Ignore isem Report Abuse Gas prices up .21 cents here in the past week.