16 August 2008
USA: slight decline in stocks of crude oil, unexpected fall in gasoline stocks
The stocks of crude oil fell less than expected last week to the USA, while those of gasoline fell unexpectedly, announced Wednesday the U.S. Department of Energy (DoE ).The reserves of crude oil fell by 100,000 barrels to 295.2 million barrels during the week ending July 25, their second consecutive week of decline. Analysts tablaient on a decline of 1.25 million barrels.
Lower 13.7% to their level of last year, these stocks are located in the lower half of the average range for this time of year, "said the DoE.
The USA have imported more crude last week compared to the previous week: +199'000 barrels per day to 10.0 million barrels.
Stocks of gasoline are on the other hand melted by 3.5 million barrels to 213.6 million barrels, against an increase of 400,000 barrels expected. The level of these reserves is watched closely by investors during the summer period traditional big travel by car.
They are, however, higher by 4.3% to their level of last year, and remain so "near the upper limit of the average range for this time of year," according to the DoE.
Finally, the reserves of distilled products (diesel and heating oil) have been further enriched: +2.4 million barrels to 130.5 million, slightly more than 2.1 million expected by analysts.
Superiors of 1.2% to their level of last year, these stocks are located in the upper half of the average range for this time of year "is indicated.
On the demand side, over the past four weeks, Americans consumed an average 20.2 million barrels per day (MBD) of oil products, down 2.4% compared with a year earlier. The consumption of gasoline has notably declined by 2.4%.
This trend confirms the forecasts of analysts, who predicted a drastic decline in consumption of oil due to the economic slowdown and very high energy prices.
Finally, the pace of U.S. refineries has remained stable, operating at 87.2% of their capacity, against 87.5% last week.
Around 14H50 GMT, on the New York Mercantile Exchange (Nymex), a barrel of light sweet crude for delivery in September went back to 122.71 dollars, up 52 cents compared to Tuesday. It had opened down 60 cents.
by erectusplus at 17:39:00 |
0 Comments:
Post a Comment
<< Home