Whoa! The analysts missed this one by a mile. Here were the predictions, prior to the release of the report:
Analysts surveyed by Dow Jones Newswires on average predict crude inventories rose 300,000 barrels during the week ended Oct. 19, and Vienna’s PVM Oil Associates also noted that “expectations for this week’s U.S. oil inventory data [...]
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This Week in Petroleum 10-24-07 
This Week in Petroleum 5-23-07
Some Reactions to Gasoline Inventories
From Bloomberg:
Crude Oil Is Steady as U.S. Gasoline Supplies, Demand Increase
“Inventories are growing but we are still in big trouble with gasoline supplies,” said Phil Flynn, vice president of risk management at Alaron Trading Corp. in Chicago. “Supplies should be much higher going onto the Memorial Day weekend.”
U.S. gasoline consumption peaks [...]
Gas Prices, Gouging, and Food versus Fuel
A few newsworthy items to cover: Gas prices, gas gouging legislation, and food versus fuel.
Gas Prices on the Rise
Surprise! It seems that gas prices are rising:
Gas prices on the rise again, analyst reports
Gas prices are on the rise again, just as Americans hit the highways for Thanksgiving.
Gas prices rose about 5 cents per gallon nationwide [...]
This Week in Petroleum 1-30-08
Updated
Gasoline inventories did in fact edge upward, as gasoline imports were very strong. Had that not been the case, gasoline inventories would have definitely come down, as utilization continues to trend down. In fact, just glancing over the data, more gasoline may have been imported this January than in any other January before. As long [...]
This Week in Petroleum 4-18-07
Really late getting this out this week, but it has been a very hectic 24 hours. I have about 3 posts I need to write up.
This week’s report highlights:
U.S. crude oil refinery inputs averaged over 15.4 million barrels per day during the week ending April 13, up 372,000 barrels per day from the previous week’s [...]
This Week in Petroleum 9-06-07
Another week, another all-time low on gasoline inventories. As I wrote last week:
Gasoline inventories were not this low following Hurricane Katrina, and yet we have had an uneventful summer. It is very possible that we will not dig ourselves out of this hole for a long time. In the short term, an upturn in gasoline [...]
This Week in Petroleum 11-21-07
2nd Update:
Well, we got that big surprise, primarily because crude imports were sharply down from last week. Some excerpts:
U.S. crude oil refinery inputs averaged 14.9 million barrels per day during the week ending November 16, down 151,000 barrels per day from the previous week’s average. Refineries operated at 87.0 percent of their operable capacity last [...]
This Week in Petroleum 11-28-07
2nd Update
Crude was down sharply following today’s release. The AP explains:
NEW YORK (AP) — Oil’s rise to $100 a barrel, which seemed a done deal as recently as two days ago, was dealt a severe blow Wednesday when the government reported an increase in supplies at the Nymex delivery terminal in Cushing, Okla., which is [...]
This Week in Petroleum 6-13-07
Update:
Very brief update. First, I just came back from the hospital, where they extracted a small boulder from my kidney. With that, I put this horrible episode behind me.
On the inventory report, I don’t think this bodes well. I had seen some predictions just before the report was released that the gasoline build was expected [...]
This Week in Petroleum 10-17-07
As I watched oil hit $89 earlier today, I just shook my head and said “We have to be very close to the top.” After all, this happened in spite of bearish news that crude inventories increased this week much more than anticipated. This happened despite OPEC boosting crude production. Today, OPEC made another statement [...]
