For those who aren't aware, the U.S. Department of Energy releases a report most Wednesday mornings about 10:30am. This report contains vital information on the amount of petroleum products the U.S. consumes and produces and has a large effect on oil and wholesale prices every Wednesday.
Message Posted: Nov 10, 2009 5:30:44 PM
Today's DOE report was a shock to me and perhaps many others who weren't expecting such large increases in inventories. Usually when stocks of oil go up, stocks of finished products (such as gasoline) fall. This week was quite the opposite. Let me highlight some of the numbers from this week's report.
Crude oil inventories rose 2.8 million barrels.
Gasoline inventories rose 5.4 million barrels.
Distillate inventories rose 3.0 ...
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