Categorized | Inventories

Weekly Inventories Data – September 1, 2010

Posted on 01 September 2010 by admin

U.S. crude oil refinery inputs averaged 14.8 million barrels per day during the week ending August 27, 68 thousand barrels per day below the previous week’s average. Refineries operated at 87.0 percent of their operable capacity last week. Gasoline production decreased last week, averaging 9.3 million barrels per day. Distillate fuel production decreased last week, averaging 4.3 million barrels per day.

U.S. crude oil imports averaged 9.7 million barrels per day last week, down by 202 thousand barrels per day from the previous week. Over the last four weeks, crude oil imports have averaged 9.6 million barrels per day, 530 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 1.1 million barrels per day. Distillate fuel imports averaged 196 thousand barrels per day last week.

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 3.4 million barrels from the previous week. At 361.7 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 decreased by 0.2 million barrels last week, and are above the upper limit of the average range. Finished gasoline inventories decreased while blending components inventories increased last week. Distillate fuel inventories decreased by 0.7 million barrels, and are above the upper boundary of the average range for this time of year. Propane/propylene inventories increased by 1.5 million barrels last week and are in the upper half of the average range. Total commercial petroleum inventories increased by 4.0 million barrels last week.

Total products supplied over the last four-week period has averaged 19.6 million barrels per day, up by 1.4 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 1.9 percent from the same period last year. Distillate fuel demand has averaged 3.7 million barrels per day over the last four weeks, up by 7.8 percent from the same period last year. Jet fuel demand is 1.6 percent higher over the last four weeks compared to the same four-week period last year.

The average world crude oil price on August 27, 2010 was $71.39 per barrel, $2.42 less than last week’s price and $0.21 below a year ago. WTI was $75.17 per barrel on August 27, 2010, $1.72 more than last week’s price and $2.45 above a year ago. The spot price for conventional gasoline in the New York Harbor was 194.28 cents per gallon, 5.78 cents more than last week’s price and 1.20 cents above last year. The spot price for No. 2 low-sulfur diesel fuel in the New York Harbor was 206.18 cents per gallon, 7.44 cents more than last week’s price and 18.58 cents
above a year ago.

The national average retail regular gasoline price decreased for the third week in a row to 268.2 cents per gallon on August 30, 2010, 2.2 cents per gallon less than last week but 6.9 cents above a year ago. The national average retail diesel fuel price also decreased for the third consecutive week to 293.8 cents per gallon, 1.9 cents per gallon under last week but 26.4 cents over a year ago.

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