September 5, 2007

Energies

Energy News

(9-5-08)  (See Latest Petroleum & Natural Gas Inventory Data) Petroleum Inventory Data (wk 8/29/08) The Energy Department reported that crude oil inventories fell 1.9 million barrels during the week ended August 29, after rising 100,000 the prior week. Analysts had expected crude oil inventories to increase 500,000 to 1.0 million barrels during the latest week. The Energy Department reported that gasoline inventories fell 1.0 million barrels during the week ended August 29, after falling 1.2 million barrels the prior week. Analysts had expected gasoline inventories to decrease 1.0 to 1.5 million barrels during the latest week. The Energy Department reported that distillate inventories --which include heating oil & jet fuel -- decreased 400,000 barrels during the week ended August 29, after being unchanged the prior week. Analysts had expected distillate inventories to increase 300,000 to 500,000 barrels during the latest week. The Energy Department reported that refinery capacity utilization rose to 88.7 during the week ended August 29, from 87.3 percent the prior week. Natural Gas Inventory Data (wk 8/29/08) The Energy Department reported that natural gas inventories rose 90 billion cubic feet during the week ended August 29, after rising 102 billion bcf the prior week. Analysts had expected natural gas inventories to increase 75 to 90  bcf during the latest week. The Energy Department reported that natural gas inventories now stand down 4.7 percent or 148 bcf from the year-ago levels, but 3.7 percent or 102 bcf above the five year average.         Energy News