EIA report (petroleum inventories): link
In oil markets, much of the attention on the weekly data is focused on the change in inventories for crude oil, gasoline, and distillate fuel, as well as, demand. Two additional statistics that knowledgeable oil analysts should closely watch over the next several weeks are crude oil inputs to refineries and total gasoline imports. Both statistics will help analysts gauge the relative tightness of the U.S. gasoline market, which, now that spring has arrived, is one of several major factors likely to determine near-term oil price direction.
If 63.25 holds, next level of resistance will be 66.55.
In oil markets, much of the attention on the weekly data is focused on the change in inventories for crude oil, gasoline, and distillate fuel, as well as, demand. Two additional statistics that knowledgeable oil analysts should closely watch over the next several weeks are crude oil inputs to refineries and total gasoline imports. Both statistics will help analysts gauge the relative tightness of the U.S. gasoline market, which, now that spring has arrived, is one of several major factors likely to determine near-term oil price direction.
If 63.25 holds, next level of resistance will be 66.55.
This entry was posted
on Wednesday, March 28, 2007 at 3/28/2007 08:36:00 PM.
You can skip to the end and leave a response.
» Post a Comment