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PD Moderator	Message Posted: Aug 4, 2010 9:44:41 AM Ignore PD Report Abuse The Department of Energy released its weekly report on the condition of petroleum inventories in the United States today. Here are some highlights: Crude oil inventories decreased by 2.8 million barrels to a total of 358.0 million barrels. At 358.0 million barrels, inventories are 8.5 million barrels above last year (2.4%) and remain above average. Supply at NYMEX delivery point, Cushing, Oklahoma increased some 600,000 barrels to 37.8 million barrels this week. Supplies at Cushing have increased for the fourth time in a row, and are in record territory once again. Gasoline inventories increased 0.7 million barrels to 223.0 million barrels. At 223.0 million barrels, inventories are now 10.1 million barrels, or... Visit GasBuddy Blog for full article

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Message Posted: Aug 4, 2010 9:44:41 AM

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The Department of Energy released its weekly report on the condition of petroleum inventories in the United States today.

Here are some highlights:

Crude oil inventories decreased by 2.8 million barrels to a total of 358.0 million barrels. At 358.0 million barrels, inventories are 8.5 million barrels above last year (2.4%) and remain above average. Supply at NYMEX delivery point, Cushing, Oklahoma increased some 600,000 barrels to 37.8 million barrels this week. Supplies at Cushing have increased for the fourth time in a row, and are in record territory once again.

Gasoline inventories increased 0.7 million barrels to 223.0 million barrels. At 223.0 million barrels, inventories are now 10.1 million barrels, or...

Visit GasBuddy Blog for full article

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POLELANE Champion Author Ohio Posts:7,148 Points:828,370 Joined:Mar 2008	Message Posted: Aug 5, 2010 10:17:42 PM Ignore POLELANE Report Abuse sell; don't buy
honda0105 Champion Author Tallahassee Posts:18,650 Points:1,612,445 Joined:Nov 2008	Message Posted: Aug 5, 2010 8:26:59 PM Ignore honda0105 Report Abuse jazzej: no matter what, prices at the pump are rising. how do you think Pig Oil makes those near record profits quarter after quarter?
honda0105 Champion Author Tallahassee Posts:18,650 Points:1,612,445 Joined:Nov 2008	Message Posted: Aug 5, 2010 8:26:17 PM Ignore honda0105 Report Abuse gas won't ever go down until there are valid alternatives to oil
jazzej All-Star Author Michigan Posts:997 Points:164,920 Joined:Jul 2009	Message Posted: Aug 5, 2010 7:05:55 AM Ignore jazzej Report Abuse So what does that mean for us if crude is down & gasoline is up (higher prices at the pump). What if it were the opposite? Higher prices at the pump.
VDubBill Champion Author Jacksonville Posts:3,765 Points:1,264,620 Joined:May 2008	Message Posted: Aug 5, 2010 6:01:23 AM Ignore VDubBill Report Abuse Another government report that's more "history" than "news." In one day there was an increase of ten cents in about half the stations here.
N5EXY Champion Author Austin Posts:5,512 Points:1,513,480 Joined:Jul 2004	Message Posted: Aug 5, 2010 12:03:24 AM Ignore N5EXY Report Abuse Garbage, garbage, garbage. Why don't they just get a spreadsheet form and just plug in some numbers? Or is that what they are doing already?
Bezalel Champion Author Oklahoma City Posts:12,117 Points:2,293,900 Joined:Oct 2006	Message Posted: Aug 4, 2010 11:56:01 PM Ignore Bezalel Report Abuse Gas supply up. Some stations here raised prices about a nickel
ChiefDrake All-Star Author Dallas Posts:673 Points:226,515 Joined:Aug 2008	Message Posted: Aug 4, 2010 11:51:21 PM Ignore ChiefDrake Report Abuse Inventories also going down due to HIGH temperatures in the US. They'll go back up in October
Saturn93 Champion Author Salt Lake City Posts:7,292 Points:1,640,885 Joined:Oct 2006	Message Posted: Aug 4, 2010 11:36:38 PM Ignore Saturn93 Report Abuse The weekly DOE report which employs myriad highly paid government workers to produce old news which those who really need to know can already get from more reliable sources.
ILANGE9 Champion Author Illinois Posts:7,630 Points:1,600,125 Joined:Sep 2008	Message Posted: Aug 4, 2010 11:33:43 PM Ignore ILANGE9 Report Abuse Always boring.
Buddy2264 Champion Author Tampa Posts:11,674 Points:2,363,970 Joined:Oct 2005	Message Posted: Aug 4, 2010 11:30:15 PM Ignore Buddy2264 Report Abuse This is always a way for big oil to raise the prices as we are seeing now. However I think we have to begin to realize that the supply of oil is getting to be less and the price will increase more, without a good alternative. Conservation keeps your money in your pocket.
gougenator Champion Author Dallas Posts:29,883 Points:3,248,925 Joined:Aug 2003	Message Posted: Aug 4, 2010 11:28:12 PM Ignore gougenator Report Abuse major gouge alert! funny how we keep buying and crying!!! ,its always going to happen,,, [Edited by: gougenator at 8/5/2010 12:30:12 AM EST]
joel27nc Champion Author Raleigh Posts:10,552 Points:1,861,295 Joined:Mar 2008	Message Posted: Aug 4, 2010 11:23:32 PM Ignore joel27nc Report Abuse Hard working Speculators.....Greed Rules
ex911 Champion Author San Jose Posts:6,844 Points:1,339,770 Joined:Apr 2005	Message Posted: Aug 4, 2010 11:22:27 PM Ignore ex911 Report Abuse meanwhile, at the pump...
915Chief Champion Author San Antonio Posts:6,091 Points:1,226,295 Joined:Aug 2008	Message Posted: Aug 4, 2010 11:21:02 PM Ignore 915Chief Report Abuse BOHICA
hwnguy Champion Author Honolulu Posts:3,845 Points:1,389,990 Joined:Apr 2008	Message Posted: Aug 4, 2010 11:18:44 PM Ignore hwnguy Report Abuse Gas prices are on the rise
TBONE3 Champion Author Pennsylvania Posts:8,766 Points:1,980,650 Joined:Mar 2005	Message Posted: Aug 4, 2010 11:15:23 PM Ignore TBONE3 Report Abuse I guess this worthless DOE report gives its employees something to do. If it is correct, why are prices rising?
fattydaddy Rookie Author Omaha Posts:54 Points:52,690 Joined:Jun 2010	Message Posted: Aug 4, 2010 11:13:20 PM Ignore fattydaddy Report Abuse I'm really confused. Can we start over?
Bubba44612 Champion Author Ohio Posts:7,411 Points:1,880,005 Joined:Aug 2005	Message Posted: Aug 4, 2010 11:12:41 PM Ignore Bubba44612 Report Abuse So speculators are screwing us again!
Toppers Champion Author Atlanta Posts:9,027 Points:2,473,620 Joined:Mar 2005	Message Posted: Aug 4, 2010 11:09:00 PM Ignore Toppers Report Abuse Stable in GA...
tedjm1 Champion Author New York Posts:5,609 Points:800,300 Joined:Dec 2006	Message Posted: Aug 4, 2010 11:07:47 PM Ignore tedjm1 Report Abuse And yet prices rise.
uptherefiners Champion Author Chicago Posts:5,048 Points:1,002,000 Joined:Jun 2006	Message Posted: Aug 4, 2010 11:06:56 PM Ignore uptherefiners Report Abuse blah blah blah
Somis1 Champion Author Ventura Posts:13,701 Points:2,617,700 Joined:Jul 2005	Message Posted: Aug 4, 2010 11:05:48 PM Ignore Somis1 Report Abuse Do away with the DOE and it's meaningless reports.
CobraLeader Champion Author New Jersey Posts:267,902 Points:1,200,750 Joined:Apr 2007	Message Posted: Aug 4, 2010 11:04:43 PM Ignore CobraLeader Report Abuse ... Same worthless report, different week. ...
Sody33 Champion Author Las Vegas Posts:15,946 Points:1,870,860 Joined:Oct 2005	Message Posted: Aug 4, 2010 11:04:11 PM Ignore Sody33 Report Abuse HOkay - another reason to raise gas prices is at hand.
Blue_Cruzer Champion Author Lexington Posts:7,540 Points:1,673,585 Joined:Mar 2007	Message Posted: Aug 4, 2010 11:03:14 PM Ignore Blue_Cruzer Report Abuse Another worthless report IMO.
rxman1 Champion Author Toledo Posts:9,564 Points:1,864,820 Joined:Nov 2007	Message Posted: Aug 4, 2010 11:01:54 PM Ignore rxman1 Report Abuse And yet prices continue to go up.
Vette1967 Champion Author Albany Posts:5,987 Points:1,280,000 Joined:Jun 2009	Message Posted: Aug 4, 2010 10:51:33 PM Ignore Vette1967 Report Abuse So when will the price of gas come down?
abcdMA Champion Author Worcester Posts:7,942 Points:1,578,880 Joined:Nov 2008	Message Posted: Aug 4, 2010 10:48:30 PM Ignore abcdMA Report Abuse keep demand down
bmoreira Veteran Author Toronto Posts:392 Points:384,510 Joined:Jul 2010	Message Posted: Aug 4, 2010 10:47:20 PM Ignore bmoreira Report Abuse me too
MRED3 Champion Author Jacksonville Posts:4,014 Points:932,855 Joined:May 2009	Message Posted: Aug 4, 2010 10:45:29 PM Ignore MRED3 Report Abuse I think the prices are to high.
DarthDadJr Champion Author Virginia Posts:7,322 Points:1,524,245 Joined:Jul 2008	Message Posted: Aug 4, 2010 10:37:14 PM Ignore DarthDadJr Report Abuse You know...I'm just happy it isn't higher...it wasn't too many summers ago when oil hit $147 a barrel...I can live with oil and gas at this level...but I know it will not remain here...just wishing it would.
CPGas1815 Champion Author Michigan Posts:6,027 Points:1,099,605 Joined:Apr 2008	Message Posted: Aug 4, 2010 10:31:39 PM Ignore CPGas1815 Report Abuse I watch the CNBC coverage of the markets each morning. This morning (8/4/10) when news began to trickle out that gasoline consumption had increased and inventories had decreased, the traders and speculators got involved and bid up the price of crude oil and refined gasoline. There is no rational reason that I can think of for the daily price of a single commodity to so greatly affect the daily price of gasoline and almost every other commodity related to energy. This energy industry created fixed system disadvantages consumers and opens the door wide for particularly the oil industry to profit exorbitantly. I recently read an article that reported the net worth of the 5 wealthiest multinational corporations on the planet. Of those top five, three are multinational oil corporations, the thieving threesome of BP, Shell and Exxon-Mobil.
HawaiianGuy Champion Author Idaho Posts:9,543 Points:3,083,375 Joined:May 2003	Message Posted: Aug 4, 2010 10:30:35 PM Ignore HawaiianGuy Report Abuse Supplies increasing, prices at the pump increasing. What kind of sense does that make?
beachbumCA Champion Author Riverside Posts:10,459 Points:1,206,350 Joined:May 2008	Message Posted: Aug 4, 2010 10:28:00 PM Ignore beachbumCA Report Abuse Price up in my area. Why?
jb107 Champion Author New Jersey Posts:9,569 Points:2,624,925 Joined:Sep 2005	Message Posted: Aug 4, 2010 10:20:31 PM Ignore jb107 Report Abuse Up and down, up and down, it's the same thing every week.
regasaz Champion Author Phoenix Posts:5,775 Points:1,283,880 Joined:Dec 2006	Message Posted: Aug 4, 2010 10:13:21 PM Ignore regasaz Report Abuse Yep! We're getting the shaft............
nigelb Champion Author Virginia Posts:8,475 Points:1,394,680 Joined:Feb 2008	Message Posted: Aug 4, 2010 10:12:38 PM Ignore nigelb Report Abuse mmene - In that case these articles have indicated high inventory levels for several weeks, if not a few months. Have gas prices declined? NO! Maybe it is you that does not understand that the market is manipulated by big oil and the speculators.
Lukus Champion Author Halifax Posts:8,304 Points:1,678,530 Joined:Nov 2007	Message Posted: Aug 4, 2010 10:10:02 PM Ignore Lukus Report Abuse Inventories are still up and prices are up as well.
weshyatt Sophomore Author Memphis Posts:230 Points:266,570 Joined:Jun 2006	Message Posted: Aug 4, 2010 9:57:42 PM Ignore weshyatt Report Abuse If we had more US oil wells we would not be dependent on Opec.
moody4u Champion Author Cincinnati Posts:3,847 Points:767,245 Joined:Oct 2008	Message Posted: Aug 4, 2010 9:53:24 PM Ignore moody4u Report Abuse Lies & Greed!
DEG Champion Author Las Vegas Posts:17,640 Points:3,498,605 Joined:Jul 2003	Message Posted: Aug 4, 2010 9:50:53 PM Ignore DEG Report Abuse Oil/gas prices are too high for this economy.
gasaholicMO Champion Author Missouri Posts:2,621 Points:510,940 Joined:Apr 2010	Message Posted: Aug 4, 2010 9:49:24 PM Ignore gasaholicMO Report Abuse If oil goes up a little here, gas prices jump over a dime. Then slip a cent or two over the next few days. If oil drops, we may see a few cents drop over a week or so. Easy to see were the incentives are.
Chris46 Champion Author Dayton Posts:23,720 Points:2,085,240 Joined:Sep 2005	Message Posted: Aug 4, 2010 9:49:21 PM Ignore Chris46 Report Abuse That's interesting... When supplies to up, gas prices follow. Seems to me gas prices should go down. Interesting...
Stevedog Champion Author Michigan Posts:3,868 Points:1,948,820 Joined:Jul 2006	Message Posted: Aug 4, 2010 9:49:15 PM Ignore Stevedog Report Abuse that's some really fun reading, for an economist
4warned Champion Author Michigan Posts:5,814 Points:2,166,560 Joined:Nov 2006	Message Posted: Aug 4, 2010 9:48:15 PM Ignore 4warned Report Abuse Oil will charge what ever they want. The DOE report just gives information for the speculators to try and manipulate.
toadNY Champion Author Albany Posts:7,062 Points:1,517,150 Joined:Apr 2008	Message Posted: Aug 4, 2010 9:47:17 PM Ignore toadNY Report Abuse This is the same every week oil inventories down, but still above last year. gas inventories up but below last year. Need to do away with the DOE!
mmene Champion Author Houston Posts:4,347 Points:938,970 Joined:May 2008	Message Posted: Aug 4, 2010 9:45:53 PM Ignore mmene Report Abuse nigelb - just because you don't understand the market does not mean that oil and gas supplies don't influence prices. These articles are interesting to plenty of people including me as it helps me understand trends and where prices are likely to go in the future.
Yonkers111 Champion Author Scranton Posts:8,331 Points:857,085 Joined:Apr 2007	Message Posted: Aug 4, 2010 9:44:32 PM Ignore Yonkers111 Report Abuse Supply remains good.
nigelb Champion Author Virginia Posts:8,475 Points:1,394,680 Joined:Feb 2008	Message Posted: Aug 4, 2010 9:43:15 PM Ignore nigelb Report Abuse I wondewr how these articles always get enough votes to make the top five. They are a waste of time since nothing in them appears to influence pump prices.