Categorized | Inventories

Weekly Inventories Data – August 25, 2010

Posted on 25 August 2010 by admin

U.S. crude oil refinery inputs averaged 14.9 million barrels per day during the week ending August 20, 348 thousand barrels per day below the previous week’s average. Refineries operated at 87.7 percent of their operable capacity last week. Gasoline production increased last week, averaging 9.6 million barrels per day. Distillate fuel production increased last week, averaging 4.4 million barrels per day.

U.S. crude oil imports averaged 9.9 million barrels per day last week, up by 320 thousand barrels per day from the previous week. Over the last four weeks, crude oil imports have averaged 9.6 million barrels per day, 589 thousand barrels per day above the same four-week period last year. Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 1.4 million barrels per day. Distillate fuel imports averaged 163 thousand barrels per day last week.

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 4.1 million barrels from the previous week. At 358.3 million barrels, U.S. crude oil inventories are above the upper limit of the average range for this time of year. Total motor gasoline inventories increased by 2.3 million barrels last week, and are above the upper limit of the average range. Both finished gasoline inventories and blending components inventories increased last week. Distillate fuel inventories increased by 1.8 million barrels, and are above
the upper boundary of the average range for this time of year. Propane/ propylene inventories increased by 1.1 million barrels last week and are in the middle of the average range. Total commercial petroleum inventories increased by 8.9 million barrels last week.

Total products supplied over the last four-week period has averaged 19.5 million barrels per day, up by 1.6 percent compared to the similar period last year. Over the last four weeks, motor gasoline demand has averaged 9.4 million barrels per day, up by 3.0 percent from the same period last year. Distillate fuel demand has averaged 3.5 million barrels per day over the last four weeks, up by 4.9 percent from the same period last year. Jet fuel demand is 2.9 percent higher over the last four weeks compared to the same four-week period last year.

The average world crude oil price on August 20, 2010 was $73.81 per barrel, $3.47 less than last week’s price but $3.23 above a year ago. WTI was $73.45 per barrel on August 20, 2010, $1.94 less than last week’s price but $0.33 above a year ago. The spot price for conventional gasoline in the New York Harbor was 188.50 cents per gallon, 0.78 cent more than last week’s price but 3.90 cents under last year. The spot price for No. 2 low-sulfur diesel fuel in the New York Harbor was 198.74 cents per gallon, 1.11 cents less than last week’s price but 6.88 cents
above a year ago.

The national average retail regular gasoline price decreased to 270.4 cents per gallon on August 23, 2010, 4.1 cents per gallon less than last week but 7.6 cents above a year ago. The national average retail diesel fuel price decreased to 295.7 cents per gallon, 2.2 cents per gallon less than last week but 28.9 cents over a year ago.

Source: Energy Information Administration

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