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Highlighting supply and demand: DOE report

GasBuddy Blog -- Here are some highlights from yesterday's Department of Energy Report on U.S. supply and demand:

>Crude inventories increased 1.0 million barrels from the previous week.
Comment: This is a pretty small increase compared to past reports, but brings the amount of oil in storage to 344.0 million barrels, which is 4.1% below last year, when we had 358.8 million barrels in storage.

>Gasoline inventories decreased 1.7 million barrels from the previous week.
Comment: While this number may seem to be a decent number, conventional gasoline inventories actually increased while blending components decreased over 2 million barrels. The loss in blending component inventories may be a result of refiners drawing down on...

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Submitted Mar 18, 2010 By: PD

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POLELANE Champion Author Ohio Posts:7,148 Points:828,370 Joined:Mar 2008	Message Posted: Mar 22, 2010 7:02:34 PM Ignore POLELANE Report Abuse looks like no news for just now ms. ma2 'significant' is the amount that will keep the investors happy and the speculators wondering about where to fix the prices next... maybe latter on
mrsma2 Rookie Author Virginia Beach Posts:1 Points:1,285 Joined:May 2008	Message Posted: Mar 21, 2010 10:56:22 AM Ignore mrsma2 Report Abuse still waiting (impatiently) this "recovery" i keep hearing about
honda0105 Champion Author Tallahassee Posts:15,252 Points:1,141,025 Joined:Nov 2008	Message Posted: Mar 20, 2010 11:33:17 AM Ignore honda0105 Report Abuse kelsielee: I'm with you - too bad higher inventory / supply does not reflect lower prices at the pump. And the press talks them up even further.
honda0105 Champion Author Tallahassee Posts:15,252 Points:1,141,025 Joined:Nov 2008	Message Posted: Mar 20, 2010 11:30:15 AM Ignore honda0105 Report Abuse civicdutie: Recovery? What recovery?!
honda0105 Champion Author Tallahassee Posts:15,252 Points:1,141,025 Joined:Nov 2008	Message Posted: Mar 20, 2010 11:29:43 AM Ignore honda0105 Report Abuse subnuke: it's a BLOG for crying out loud. I guess your political lens is so clouded you can't even tell a blog from an article.
kelsielee Champion Author Atlanta Posts:3,389 Points:672,025 Joined:Sep 2008	Message Posted: Mar 19, 2010 11:21:28 PM Ignore kelsielee Report Abuse Such exciting reading - about changes in inventory levels! Unfortunately, changes in inventories do not seem to directly relate to the price of gas.
computernut2008 Champion Author Ohio Posts:4,250 Points:899,270 Joined:Oct 2008	Message Posted: Mar 19, 2010 4:59:36 PM Ignore computernut2008 Report Abuse Are we to believe ANY government reports???????????
civicdutie Champion Author Rochester Posts:3,010 Points:611,275 Joined:Nov 2008	Message Posted: Mar 19, 2010 11:22:02 AM Ignore civicdutie Report Abuse If gasoline and oil are let loose and get too high this summer, it's going to bring our recovery to a halt.
clermont40miles Champion Author Cincinnati Posts:7,567 Points:1,307,530 Joined:Apr 2008	Message Posted: Mar 19, 2010 11:02:09 AM Ignore clermont40miles Report Abuse CNG is more practical and should be pushed much more than it is. Strange how losers are picked and winners are ignored. Explanation: agendas being worked.
PurduePete86 Champion Author Indiana Posts:1,077 Points:891,615 Joined:Apr 2007	Message Posted: Mar 19, 2010 10:44:13 AM Ignore PurduePete86 Report Abuse Why aren't we investing in CNG which makes much more sense. The US is the OPEC of natural gas. Current cars can be converted for about $1,500. Gas can be made from rotting garbage. There are no hazardous waste batteries to dispose of in 5-7 years. Emmisions are safe to breath. All we need are refueling stations. Dependence on foreign oil solved, toxic emmissions solved, land fill proliferation solved. I guess it just makes too much sense so no-one is interested.
CPapi Veteran Author Chicago Posts:349 Points:84,000 Joined:Nov 2009	Message Posted: Mar 19, 2010 10:30:33 AM Ignore CPapi Report Abuse Low-lighting supply and demand
Liberty2000 Champion Author Indianapolis Posts:1,318 Points:239,400 Joined:Jun 2007	Message Posted: Mar 19, 2010 10:26:43 AM Ignore Liberty2000 Report Abuse Get the bikes and scooters out!
MG_Sputnik Champion Author Philadelphia Posts:5,144 Points:1,500,155 Joined:Apr 2006	Message Posted: Mar 19, 2010 10:22:50 AM Ignore MG_Sputnik Report Abuse Exactly. High supply, low demand SHOULD mean lower prices. But because we allow speculators to run amok in the market, prices rise.
clermont40miles Champion Author Cincinnati Posts:7,567 Points:1,307,530 Joined:Apr 2008	Message Posted: Mar 19, 2010 10:21:44 AM Ignore clermont40miles Report Abuse Keep conserving -- it does make a big difference. It is like an anchor or huge weight that the speculator scum must pull against as they continually attempt to shoot prices skyward. Without it, we would certainly already be well past $3.00 and probably at $4.00. The way the specuTraitors are going, we may get there anyhow. But that is better than $5 or beyond. Unfortunately speculators have been making a bigger difference than conservation -- a difference in the wrong direction. Yesterday they were very skittish and took profits off the table before they got burned. I hope many got burned or get burned -- and stay away from the table. It's a paper chase - not reality: they don't have to take delivery of product -- there is no penalty for bidding without delivery. The greenie bent of the BHO administration results in their wanting fuel prices to be sky high to promote their agenda of alternative energy. Problem is they cannot compete with oil, coal and CNG. So their solution is to force fuel prices higher to the point where alternates become attractive and perhaps viable. When that happens, oil supply gluts even further and oil prices plunge. Round and around it goes. The speculator scum's greed & the EcoNutz agenda are forcing us and the entire nation to bear a lot of unnecessary costs. Both are wrong.
wegman Champion Author Twin Cities Posts:5,486 Points:1,626,560 Joined:Jun 2001	Message Posted: Mar 19, 2010 10:21:23 AM Ignore wegman Report Abuse There is something broken. High supply, prices going up.
CharlieC08 Champion Author Colorado Posts:6,378 Points:1,151,175 Joined:Oct 2008	Message Posted: Mar 19, 2010 10:17:52 AM Ignore CharlieC08 Report Abuse in the end supply and demand will rule.
FlyNFool Champion Author South Carolina Posts:5,945 Points:1,220,980 Joined:Aug 2008	Message Posted: Mar 19, 2010 10:16:26 AM Ignore FlyNFool Report Abuse I trust the DOE like I trust congress!
Sealer Champion Author Charleston Posts:5,653 Points:838,400 Joined:Jan 2008	Message Posted: Mar 19, 2010 10:16:01 AM Ignore Sealer Report Abuse Inventory is not the same as supply. Global demand is increasing.
goalie1950 Champion Author Phoenix Posts:4,044 Points:829,270 Joined:Oct 2009	Message Posted: Mar 19, 2010 10:14:27 AM Ignore goalie1950 Report Abuse The DOE needs to collect some pricing data at the corner gas station and see why this doesn't correlate with the data that shows gasoline consumption on the decline for the most part. Can you say: price manipulation?
Lizzylou Champion Author Stockton Posts:7,025 Points:2,000,050 Joined:Oct 2005	Message Posted: Mar 19, 2010 10:12:39 AM Ignore Lizzylou Report Abuse AGREE Ready Eddie!! GET RID OF SPECULATORS!!!
tomok Champion Author Portland Posts:24,628 Points:1,877,535 Joined:Aug 2006	Message Posted: Mar 19, 2010 10:12:12 AM Ignore tomok Report Abuse OPEC will keep their crude oil prices up for their income demands, they have a ‘need’ to make fancy buildings and big cars. Big oil and the refiners create false shortages by producing less fuel and raising the fuel prices at the pump. Driving less, using less fuel has no affect and conservation does not work. Then those speculators will keep fuel prices up - because they can. And, the economy is still bottomed out with just a very, very few companies showing an increase in business.
Ready Eddie Champion Author Twin Cities Posts:3,400 Points:879,075 Joined:Feb 2003	Message Posted: Mar 19, 2010 10:09:47 AM Ignore Ready Eddie Report Abuse Get rid of speculators and media.
tobasco Champion Author Los Angeles Posts:6,743 Points:1,754,395 Joined:Mar 2004	Message Posted: Mar 19, 2010 10:09:39 AM Ignore tobasco Report Abuse Must be that time of year.
playtimeCLE Champion Author Cleveland Posts:5,898 Points:1,091,400 Joined:Nov 2008	Message Posted: Mar 19, 2010 10:08:37 AM Ignore playtimeCLE Report Abuse Here are some highlights from yesterday's "Quaint" Department of Energy Report on U.S. supply and demand:
Diesel_Ram Champion Author Dallas Posts:4,217 Points:1,054,230 Joined:Jan 2009	Message Posted: Mar 19, 2010 10:07:40 AM Ignore Diesel_Ram Report Abuse OK, no changes here at the local level
Don20 Champion Author Oklahoma City Posts:7,287 Points:2,152,095 Joined:Mar 2005	Message Posted: Mar 19, 2010 10:06:45 AM Ignore Don20 Report Abuse Here are some highlights from yesterday's Department of Energy Report on U.S. supply and demand: >Crude inventories increased 1.0 million barrels from the previous week. This Article is in direct conflict with first Article, where inventories were down. So who do you believe.???????
mackconsult Champion Author Portland Posts:3,688 Points:702,135 Joined:Jan 2009	Message Posted: Mar 19, 2010 10:05:05 AM Ignore mackconsult Report Abuse news for the speculators
9C1 Champion Author Chicago Posts:20,397 Points:3,787,835 Joined:Jul 2001	Message Posted: Mar 19, 2010 10:04:22 AM Ignore 9C1 Report Abuse Well, well how interesting.
206awd250 Champion Author Seattle Posts:1,260 Points:521,055 Joined:Nov 2008	Message Posted: Mar 19, 2010 10:03:12 AM Ignore 206awd250 Report Abuse keep conserving.
maske_2222 Champion Author Manitoba Posts:5,694 Points:1,155,590 Joined:Oct 2008	Message Posted: Mar 19, 2010 10:02:35 AM Ignore maske_2222 Report Abuse manipulations.....
Wolfwings Champion Author Delaware Posts:6,398 Points:1,312,115 Joined:May 2004	Message Posted: Mar 19, 2010 10:02:18 AM Ignore Wolfwings Report Abuse And, if we lower our demands a little more, the price of oil products will fall back accordingly.
ChiefDrake All-Star Author Dallas Posts:673 Points:226,290 Joined:Aug 2008	Message Posted: Mar 19, 2010 10:01:43 AM Ignore ChiefDrake Report Abuse "Oil imports to the United States fell last week to just 9.6 million barrels, a 7.7% drop over a year ago,"Let's keep this trend going for the next 5 yrs, agreed?
DRHCNY Champion Author New York Posts:1,858 Points:552,990 Joined:Oct 2007	Message Posted: Mar 19, 2010 10:01:10 AM Ignore DRHCNY Report Abuse Market manipulation.
AnObserver Champion Author New Jersey Posts:6,270 Points:1,841,235 Joined:Sep 2005	Message Posted: Mar 19, 2010 9:58:47 AM Ignore AnObserver Report Abuse Crude inventories up; gasoline inventories down - proces constant in NJ
throttle Champion Author Maryland Posts:10,406 Points:2,153,095 Joined:Jul 2004	Message Posted: Mar 19, 2010 9:58:31 AM Ignore throttle Report Abuse Old news.
kyrunner Champion Author Lexington Posts:6,588 Points:1,231,340 Joined:Aug 2008	Message Posted: Mar 19, 2010 9:57:13 AM Ignore kyrunner Report Abuse Lets see here. The Department of energy gives so called reports on fuel supplies yet this very agency is the one who is trying to hold down the US from seeking our OWN oil. Does something smell rotten in Washington? Another reason to do away with this worthless agency and its 60,000+ federal union employees.
TopGunn Champion Author Baltimore Posts:6,811 Points:2,148,305 Joined:Aug 2004	Message Posted: Mar 19, 2010 9:55:40 AM Ignore TopGunn Report Abuse Yesterdays news has not changed.
bababooey2 Champion Author Hartford Posts:3,980 Points:834,115 Joined:Sep 2009	Message Posted: Mar 19, 2010 9:54:07 AM Ignore bababooey2 Report Abuse Ya
DrSlowDriver Champion Author Mississippi Posts:13,698 Points:2,427,215 Joined:Apr 2005	Message Posted: Mar 19, 2010 9:52:58 AM Ignore DrSlowDriver Report Abuse ldr1, I've been trying to figure a way to work where I could get there by golf cart or scooter. If I could, I would.
Maintroll Champion Author Lexington Posts:6,276 Points:1,235,610 Joined:Aug 2008	Message Posted: Mar 19, 2010 9:52:55 AM Ignore Maintroll Report Abuse The Department of Energy is just like every other government entity, it is a complete joke to say the least.
VTROCK Champion Author Detroit Posts:2,582 Points:644,455 Joined:Sep 2008	Message Posted: Mar 19, 2010 9:51:19 AM Ignore VTROCK Report Abuse Looks like refiners are trying to squeeze a bit more profit out of their efforts.
saveongasNC Champion Author North Carolina Posts:4,407 Points:1,094,015 Joined:Aug 2008	Message Posted: Mar 19, 2010 9:51:08 AM Ignore saveongasNC Report Abuse Buy less pay less!
fullauto Champion Author Reading Posts:3,302 Points:1,065,500 Joined:Apr 2008	Message Posted: Mar 19, 2010 9:50:52 AM Ignore fullauto Report Abuse if people do not bitch - they think they will explode.
rowing Champion Author Macon Posts:1,056 Points:629,930 Joined:Sep 2009	Message Posted: Mar 19, 2010 9:48:39 AM Ignore rowing Report Abuse thanks to greedy oil companies
connbrown Champion Author Corpus Christi Posts:1,517 Points:361,175 Joined:Apr 2009	Message Posted: Mar 19, 2010 9:47:10 AM Ignore connbrown Report Abuse there are some people out there that don't bother to look at gas prices and fill up anywhere....and there are others that do look for lower gas prices like myself.........man... gas prices going up and down...its a game! and i hate it!
diatzikis All-Star Author Raleigh Posts:947 Points:290,260 Joined:Jul 2008	Message Posted: Mar 19, 2010 9:43:23 AM Ignore diatzikis Report Abuse Even if we stopped using gas for one week and supplys went up oil would find a way to increas in price. I'ts all greed.
BigBrat Champion Author Phoenix Posts:1,162 Points:710,050 Joined:Dec 2004	Message Posted: Mar 19, 2010 9:41:06 AM Ignore BigBrat Report Abuse Keep conserving!!!
Rajah Champion Author Illinois Posts:6,589 Points:1,957,415 Joined:Jul 2005	Message Posted: Mar 19, 2010 9:40:43 AM Ignore Rajah Report Abuse Inventories up and demand down says the price should be lower, a lot lower. Stop the artificial market manipulation.
BillHeatherL Champion Author Alberta Posts:5,324 Points:1,477,330 Joined:Apr 2007	Message Posted: Mar 19, 2010 9:40:15 AM Ignore BillHeatherL Report Abuse and the price at the pump keeps going up
racerdj Champion Author Indianapolis Posts:7,470 Points:1,589,560 Joined:Jun 2003	Message Posted: Mar 19, 2010 9:39:56 AM Ignore racerdj Report Abuse The most important point is that the inventories are increasing.