(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.