via U.S. Petroleum Weekly – May 4, 2012 | Tainted Alpha.
(For The Week Ending April 27, 2012)
The oil price is holding up quite well despite weaker demand and higher stockpiles. The reason for that are tightness in the brent market (which reflects in other markets via. arbitrage) and geopolitical risks (mostly related to Iran nuclear program).
Crude stocks rose 2.8 million barrels; Gasoline stocks were down 2.0 million barrels; Distillate stocks fell 1.9 million barrels; Propane/propylene stocks rose 2.1 million barrels; Other oils stocks fell 1.1 million barrels; Total crude oil and petroleum stocks were up 1.9 million barrels.
Join the conversation and have a little fun at Capitalstool.com. If you are a new visitor to the Stool, please register and join in! To post your observations and charts, and snide, but good-natured, comments, click here to register. Be sure to respond to the confirmation email which is sent instantly. If not in your inbox, check your spam filter.