BoeingBoy
Veteran
- Nov 9, 2003
- 16,512
- 5,865
- Banned
- #1
It's another Wednesday, and the Weekly Petroleum Status Report is out.
Some of you will have noticed that crude prices are down today on the report that crude stockpiles were up last week - I think one report said they're the highest since 2002.
The Status Report is otherwise pretty much a repeat of last weeks. Some excerpts:
"U.S. crude oil refinery inputs averaged nearly 15.2 million barrels per day during the week ending March 25, up 222,000 barrels per day from the previous week's average. Refineries operated at 91.1 percent of their operable capacity last week."
"Distillate fuel production increased slightly last week, averaging 3.9 million barrels per day."
"U.S. crude oil imports averaged nearly 10.6 million barrels per day last week, up 298,000 barrels per day from the previous week. Over the last four weeks, crude oil imports have averaged over 10.2 million barrels per day, which is 288,000 barrels per day more than averaged over the comparable four weeks last year."
"U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) rose by 5.4 million barrels from the previous week. At 314.7 million barrels, U.S. crude oil inventories are in the upper half of the average range for this time of year."
"Total product supplied over the last four-week period has averaged nearly 20.7 million barrels per day, or 2.3 percent more than averaged over the same period last year."
"Kerosene-type jet fuel demand is up 10.8 percent over the last four weeks compared to the same four-week period last year. "
Now for some numbers:
Jet fuel stocks increased 4.2% year over year, but were down 3.1% from the previous week.
Domestic production of jet fuel for each of the 4 consecutive weeks ending 3/25 were:
Week ending 3/04 - 41.2 thousand bbls
Week ending 3/11 - 39.4
Week ending 3/18 - 38.5
Week ending 3/25 - 37.3
Imports of jet fuel for each of the 4 consecutive weeks ending 3/25 were:
Week ending 3/04 - 63 thousand bbls
Week ending 3/11 - 77
Week ending 3/18 - 88
Week ending 3/25 - 145
Jet fuel supplied for each of the 4 consecutive weeks ending 3/25 were:
Week ending 3/04 - 1,673 thousand bbls
Week ending 3/11 - 1,849
Week ending 3/18 - 1,737
Week ending 3/25 - 1,712
On 3/24 (the 25th was a holiday), spot prices for jet fuel were:
New York Harbor $1.6250
Gulf Coast $1.5925
Los Angeles $1.7626
On 3/24, crude prices per bbl were:
WTI Cushing $49.85 (WTI dropped the most on news of the BP refinery explosion)
Brent $52.35
As usual, here are today's crude prices for comparison (as I write this, not closing):
WTI Cushing $53.15
Brent $50.24
NYMEX $52.75
Lastly, the immediate effects of the BP refinery explosion on prices.
Crude closing prices for the day before and day of the explosion:
WTI Cushing $55.95 $49.43
Brent $55.39 $51.52
Jet fuel spot prices for the same two days:
New York Harbor $1.6075 $1.6250
Gulf Coast $1.5938 $1.6075
Los Angeles $$1.7500 $1.7342 (but was $176.26 the following day)
Jim
Some of you will have noticed that crude prices are down today on the report that crude stockpiles were up last week - I think one report said they're the highest since 2002.
The Status Report is otherwise pretty much a repeat of last weeks. Some excerpts:
"U.S. crude oil refinery inputs averaged nearly 15.2 million barrels per day during the week ending March 25, up 222,000 barrels per day from the previous week's average. Refineries operated at 91.1 percent of their operable capacity last week."
"Distillate fuel production increased slightly last week, averaging 3.9 million barrels per day."
"U.S. crude oil imports averaged nearly 10.6 million barrels per day last week, up 298,000 barrels per day from the previous week. Over the last four weeks, crude oil imports have averaged over 10.2 million barrels per day, which is 288,000 barrels per day more than averaged over the comparable four weeks last year."
"U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) rose by 5.4 million barrels from the previous week. At 314.7 million barrels, U.S. crude oil inventories are in the upper half of the average range for this time of year."
"Total product supplied over the last four-week period has averaged nearly 20.7 million barrels per day, or 2.3 percent more than averaged over the same period last year."
"Kerosene-type jet fuel demand is up 10.8 percent over the last four weeks compared to the same four-week period last year. "
Now for some numbers:
Jet fuel stocks increased 4.2% year over year, but were down 3.1% from the previous week.
Domestic production of jet fuel for each of the 4 consecutive weeks ending 3/25 were:
Week ending 3/04 - 41.2 thousand bbls
Week ending 3/11 - 39.4
Week ending 3/18 - 38.5
Week ending 3/25 - 37.3
Imports of jet fuel for each of the 4 consecutive weeks ending 3/25 were:
Week ending 3/04 - 63 thousand bbls
Week ending 3/11 - 77
Week ending 3/18 - 88
Week ending 3/25 - 145
Jet fuel supplied for each of the 4 consecutive weeks ending 3/25 were:
Week ending 3/04 - 1,673 thousand bbls
Week ending 3/11 - 1,849
Week ending 3/18 - 1,737
Week ending 3/25 - 1,712
On 3/24 (the 25th was a holiday), spot prices for jet fuel were:
New York Harbor $1.6250
Gulf Coast $1.5925
Los Angeles $1.7626
On 3/24, crude prices per bbl were:
WTI Cushing $49.85 (WTI dropped the most on news of the BP refinery explosion)
Brent $52.35
As usual, here are today's crude prices for comparison (as I write this, not closing):
WTI Cushing $53.15
Brent $50.24
NYMEX $52.75
Lastly, the immediate effects of the BP refinery explosion on prices.
Crude closing prices for the day before and day of the explosion:
WTI Cushing $55.95 $49.43
Brent $55.39 $51.52
Jet fuel spot prices for the same two days:
New York Harbor $1.6075 $1.6250
Gulf Coast $1.5938 $1.6075
Los Angeles $$1.7500 $1.7342 (but was $176.26 the following day)
Jim
