- Gasoline stocks fell by 2.8 million barrels, vs. expectations of a 0.7 million barrel build, after imports fell by 293,000 bpd
- June 2010 RBOB crack is ↑$1.21 to $17.04, widening the June/July crack spread to over $4.00 as summer driving season begins
- Stocks at Cushing, Oklahoma surged to a record 37 million barrels, depressing WTI relative to Brent further: June 2010 Brent is now $5.00 over WTI
- Refinery utilization rates decreased 1.2% to 88.4%: crude oil consumption by refineries ↓110,000 bpd to 15.03 million bpd
- Ever-increasing domestic crude oil stocks are deepening the crude oil contango: Jun/Sep is $0.78 wider at $7.68
Wednesday, May 12, 2010
EIA Weekly Petroleum Status Report Commentary
Subscribe to:
Posts (Atom)
Posts
