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GasBuddy News Article

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EIA: Crude and gasoline inventories both drop... again

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

Here are some highlights:

CRUDE INVENTORIES:
Crude oil inventories decreased by 3.7 million barrels to a total of 369.9 million barrels. At 369.9 million barrels, inventories are 20.1 million barrels above last year (5.7%) and are above the upper limit of the average range.

GASOLINE INVENTORIES:
Gasoline inventories decreased by 1.8 million barrels to 206.1 million barrels. At 206.1 million barrels, inventories are down 7.5 million barrels, or 3.5% lower than last year. Here's how individual regions and their gasoline inventory fared last week: East Coast (-1.1mb); Midwest...


Read the Full Article

Submitted Aug 08, 2012 By: PD
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Author Topic: EIA: Crude and gasoline inventories both drop... again Back to Topics
REPLIES (newest first) Post a Reply
stonecold5005
All-Star Author Waco

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Message Posted: Aug 11, 2012 10:07:27 AM

old news
gasokie
Champion Author Oklahoma

Posts:5,059
Points:2,021,065
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Message Posted: Aug 10, 2012 6:49:45 PM

It's disturbing to read how people want to do away with free markets and how they think producers and suppliers should exist only to bring their products to market as cheaply as possible. Farmers, factories, any producers of products want to get as much as they can out of their product and it would be a pity to apply the policies of "Dear Leader" in N. Korea to our commodity market. And oil is just another product. When I sold my pickup the other day I got as much as I could out of it. And there is nothing wrong with that. Just because a commodity is critical doesn't mean its owner is under obligation to flail himself with lower than market prices.
jethro5000
Champion Author Kentucky

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Points:1,223,690
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Message Posted: Aug 10, 2012 9:12:58 AM

Speculators are the problem. The govt needs to not allow oil to be traded like a stock...
wild3bill
Champion Author New York

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Points:1,958,745
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Message Posted: Aug 9, 2012 5:31:56 PM

We need news about smething really bad happening to Speculators, like: Arrest for market manipulation, conspiracy to act in restraint of free trade!
5kvdave
All-Star Author Los Angeles

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Message Posted: Aug 9, 2012 12:25:12 PM

MORE B.S.!!!!!!
madison8359
Champion Author Cleveland

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Message Posted: Aug 9, 2012 11:00:30 AM

I am still wondering who pays for this report and why?
Digger52
Champion Author Chicago

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Message Posted: Aug 9, 2012 10:41:06 AM

Old news
Gas_Buzzer
Champion Author South Carolina

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Message Posted: Aug 9, 2012 9:17:53 AM

Same as yesterday...more uneducated imbeciles sucking on the government teat because they are not qualified to work in the private sector.
gravityhurts
Champion Author North Carolina

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Message Posted: Aug 9, 2012 9:07:42 AM

Here we go again, no reason why it just is and now we PAY. All a pile of dog squeeze
CivicMA
Champion Author Boston

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Message Posted: Aug 9, 2012 8:39:51 AM

Every story/study/revelation is used to justify ever increasing prices!
Buck_on_Bass
Champion Author Tennessee

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Message Posted: Aug 9, 2012 7:35:34 AM

We still have stocks that are at the upper end (or above it) for 'normal' stock levels. This should be putting limit on price increases but we have the rest of the world that is willing to buy refined products from the US at current prices. Welcome to global trade.
billy44bo
Champion Author Mobile

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Message Posted: Aug 9, 2012 7:32:11 AM

spot exporting the gas and then there would be way to much and the price would have to come down,However GREED runs the oil market
tidalwave3
Champion Author Tallahassee

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Message Posted: Aug 9, 2012 7:31:34 AM

dougtheeconman You are very correct and seems suspicious to me, like a plan to raise $$.
DougtheEconMan
Champion Author Akron

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Message Posted: Aug 9, 2012 7:22:39 AM

KEEP YOUR TANKS FULL! Early last week, I started posting my concern over how many refineries went down or were down for emergency repair. Four in the Midwest and a pipeline, over and above the scheduled shutdowns. Since then, a fire in Tulsa plant, and now in California. I will continue to post...KEEP YOUR TANKS AND GAS CANS FULL! We may be facing higher prices and possible spot shortages in the next 5 or 6 weeks.
cherican
Champion Author Ontario

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Message Posted: Aug 9, 2012 7:17:59 AM

Are we surprised by this article. I most certainly am not. Oil companies wnat pump prices to increase and speculators love this...... the only one getting the raw end of the deal is the consumer. You and I keep paying higher and higher prices.
miser73
Champion Author Gary

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Message Posted: Aug 9, 2012 7:09:02 AM

I already commented on this one yesterday. It's not news any more.
RichardoB
Champion Author Fayetteville

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Message Posted: Aug 9, 2012 7:06:45 AM

This does not explain the large increase in retail gasoline prices over the last month.
garjul
Champion Author Flint

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Message Posted: Aug 9, 2012 7:05:10 AM

We can conserve fuel all day and still end up with high gas prices. We'll never win this battle.
Jamer
Champion Author Las Vegas

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Message Posted: Aug 9, 2012 7:05:01 AM

One last push by the GREEDY oil companies to put us back into recession mode.
justme48
Champion Author New Jersey

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Message Posted: Aug 9, 2012 7:04:46 AM

Old news,Next please.
JSX515
Champion Author St. Louis

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Message Posted: Aug 9, 2012 7:04:44 AM

Obozo = the $4 president
Sam1004
Champion Author Indianapolis

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Message Posted: Aug 9, 2012 7:03:24 AM

Here the prices went up 60 cents last week and have come down about 16 cents - so I guess it's time for another increase, right? (She said - tongue in cheek)
I10Express
Champion Author San Antonio

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Message Posted: Aug 9, 2012 7:02:13 AM

Must be shipping it overseas.
ds531
Champion Author Texas

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Message Posted: Aug 9, 2012 7:01:49 AM

ok
eightiesgod
Champion Author Ohio

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Message Posted: Aug 9, 2012 7:00:48 AM

there is no more here we go......we have been and are staying here and above....
uppy25
Veteran Author Dayton

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Message Posted: Aug 9, 2012 7:00:28 AM

OLD NEWS.........
deerslayer5
Champion Author Minnesota

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Message Posted: Aug 9, 2012 7:00:18 AM

The prices keep going up.
Beboper
Champion Author Virginia

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Message Posted: Aug 9, 2012 6:59:47 AM

old news
Bus936
Champion Author Lexington

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Message Posted: Aug 9, 2012 6:59:39 AM

My goodness, another week of propaganda from the oil industry.
DougtheEconMan
Champion Author Akron

Posts:2,167
Points:378,430
Joined:Feb 2008
Message Posted: Aug 9, 2012 6:59:00 AM

KEEP YOUR TANKS FULL! Early last week, I started posting my concern over how many refineries went down or were down for emergency repair. Four in the Midwest and a pipeline, over and above the scheduled shutdowns. Since then, a fire in Tulsa plant, and now in California. I will continue to post...KEEP YOUR TANKS AND GAS CANS FULL! We may be facing higher prices and possible spot shortages in the next 5 or 6 weeks.
TonyPSU
Champion Author Cleveland

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Message Posted: Aug 9, 2012 6:58:33 AM

Speculators again!, Tax the profits out of them
sit
Champion Author Cleveland

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Message Posted: Aug 9, 2012 6:58:07 AM

Prices going up
Tnerbeel
Champion Author Houston

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Message Posted: Aug 9, 2012 6:57:43 AM

We really have to savor those periods of falling prices....they are few and far between
roland1971
Champion Author Virginia

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Message Posted: Aug 9, 2012 6:57:35 AM

ok
timarcos
Champion Author Corpus Christi

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Message Posted: Aug 9, 2012 6:57:29 AM

Ok.
QualTekGuy
Champion Author Illinois

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Message Posted: Aug 9, 2012 6:57:28 AM

Here we go again
bell05
Champion Author Atlanta

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Message Posted: Aug 9, 2012 6:57:08 AM

Old news.
BigZ1959
Champion Author Cincinnati

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Message Posted: Aug 9, 2012 6:56:45 AM

old
eswi
Champion Author Madison

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Message Posted: Aug 9, 2012 6:56:37 AM

OK
Gman69NH
Sophomore Author New Hampshire

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Message Posted: Aug 9, 2012 6:56:34 AM

Seems to mean nothing.
2khawk
Champion Author Iowa

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Message Posted: Aug 9, 2012 6:56:22 AM

Next week they will increase.
tomok
Champion Author Portland

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Message Posted: Aug 9, 2012 6:55:55 AM

Crude oil inventories decreased, Gasoline inventories decreased, Distillate inventories decreased, total Refinery utilization rise 0.4%, Total US oil stocks are up 2.3%. Refinery utilization in the 90% plus, except East Coast @ 83.7% and West Coast at 87.6%. Gasoline and Crude Oil inventories decreased - this is a Bad Thing, higher prices at the pump is a Bad thing!
Crude oil and Gasoline inventories decreased so Big Oil can raise the price of fuel at the pump!
Big Oil continues to sell fuel and natural gas on the world market for higher prices, there will be NO price reduction for the cost of fuel or natural gas IN the US. 'Coming out of the closet' Barry will support natural gas and oil production for sale on the world market to pay for his ‘spending gone wild’ addiction and receive the huge federal tax income from oil. Barry's lousy, smoke and mirrors, lack of jobs, dog and pony show and in the crapper economy, the good paying jobs are Not there. Barry's economy is not improving but continues to hurt the population and the job numbers continues to be down – no matter how smoooooth talking Barry spins those numbers and he can spin them very well! People will still drive and buy fuel no matter what but it sure helps to have a job too!
The US ‘oil and natural gas resources’ belong to the citizens of this country and are to be used by those same citizens! Speculators, manipulators and the banks continue to unfairly and unjustly make the driving public pay higher prices at the pump for their personal benefit.
How much will gas prices go up and they will rise, the trend is always up with fuel prices. The price at the pump needs to go down to $2/gallon, $3 to $3.50/gallon is Not the new low!
Whatever the size or shape of the vehicle, Produce and ‘Drive’ vehicles with high MPG, are very safe, reliable, have a ‘reasonable’ cost and a good ‘value’ for the money. Consider using other forms of less expensive transportation to lower your cost.
The price of fuel at the pump is too high!
12/22/2012!
smokinjoe54
Champion Author Ohio

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Message Posted: Aug 9, 2012 6:55:30 AM

These numbers don't mean a thing.
bozo
Champion Author Boston

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Message Posted: Aug 9, 2012 6:55:11 AM

not sure what we're learning from this, if anything.
Costello
Champion Author South Dakota

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Message Posted: Aug 9, 2012 6:55:06 AM

Just another excuse...
Gearitis
Champion Author Waco

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Message Posted: Aug 9, 2012 6:55:05 AM

Here we go folks, its coming, and then in late October, Obama will wave his hand and prices will fall so he can become reelected....
Garston
Champion Author Maine

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Message Posted: Aug 9, 2012 6:55:02 AM

ok
Yonkers111
Champion Author Scranton

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Message Posted: Aug 9, 2012 6:54:34 AM

This was an article yesterday.
cehend
Champion Author Maryland

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Message Posted: Aug 9, 2012 6:53:47 AM

Speculation is killer for the newest price increases.
bondo
Champion Author Twin Cities

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Message Posted: Aug 9, 2012 6:53:37 AM

Ok
V8power
Champion Author Pennsylvania

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Message Posted: Aug 9, 2012 6:52:48 AM

Sure liars, sure.
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