DoE U.S. Crude Oil Inventories

In this morning's weekly energy inventory report from the Department of Energy, crude oil stockpiles are expected to show a decrease of 1,400 barrels of oil. In the chart below, we compare the current inventory levels with the overall average since 1984. Even though oil is up more than 60% this year, inventory levels remain well above their long-term average. Just to get back to average, we would need to see a decline of nearly 15 million barrels.

click to enlarge

Comments

[HardwoodFlo...:]

You mean oil isn't trading on fundementals?

Must be chaos theory- something somewhere will happen at sometime. Maybe some pirates will jump a ship, or a storm will hit the gulf, or a big Oct driving "season", or maybe the russians will go to war with the norweigans, or maybe...

Sep 23 02:33 PM

[Kova:]

And when was the last time oil WAS trading on fundamentals? :-))


On Sep 23 02:33 PM HardwoodFlooring wrote:

> You mean oil isn't trading on fundementals?
>
> Must be chaos theory- something somewhere will happen at sometime.
> Maybe some pirates will jump a ship, or a storm will hit the gulf,
> or a big Oct driving "season", or maybe the russians will go to war
> with the norweigans, or maybe...

Sep 24 08:18 AM