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EIA: Massive rise in crude inventories as refinery utilization jumps

GasBuddy Blog -- The Energy Information Administration released its weekly report on the condition of petroleum inventories in the United States today.

Here are some highlights:

CRUDE INVENTORIES:
Crude oil inventories increased by 8.5 million barrels to a total of 367.6 million barrels. At 367.6 million barrels, inventories are 28.6 million barrels above last year (8.4%) and are near the upper limit of the average range.

GASOLINE INVENTORIES:
Gasoline inventories decreased by 1.4 million barrels to 196.3 million barrels. At 196.3 million barrels, inventories are down 17.8 million barrels, or 8.3% lower than last year. Here's how individual regions and their gasoline inventory fared last week: East Coast (-2.3mb); Midwest...


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Submitted Sep 19, 2012 By: PD
Category: GasBuddy Official Blog > Topics Add to favorite topics   Post new topicPost New Topic
Author Topic: EIA: Massive rise in crude inventories as refinery utilization jumps Back to Topics
REPLIES (newest first) Post a Reply
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pricewar
Champion Author Ogden

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Message Posted: Sep 25, 2012 10:51:07 PM

Really... some highlights.
whose in charge here?
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honda0105
Champion Author Tallahassee

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Message Posted: Sep 23, 2012 6:08:00 AM

it's so not doing anything to know this... (b/c it's not changing anything at the pumps long term).
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Agarre
Champion Author Richmond

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Message Posted: Sep 20, 2012 3:44:17 PM

okie
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Double_Golden
Champion Author San Francisco

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Message Posted: Sep 20, 2012 1:11:17 PM

but I haven't not see the prices at the pump going south yet...
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spiderjay
Champion Author Little Rock

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Message Posted: Sep 20, 2012 12:55:50 PM

they are screwing us
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albert2008
Champion Author Winnipeg

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Message Posted: Sep 20, 2012 12:42:08 PM

not good
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ss70
Champion Author Detroit

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Message Posted: Sep 20, 2012 7:52:51 AM

Refineries are flush with lots and lots of cash
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OldMan322
Champion Author Illinois

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Message Posted: Sep 20, 2012 6:20:16 AM

We don't stand a chance
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RUNNINONEMPTYFL
Champion Author Florida

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Message Posted: Sep 20, 2012 5:10:38 AM

Here we go again...
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pitamon
Champion Author Philadelphia

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Message Posted: Sep 20, 2012 4:23:53 AM

Gas dropped 6 cents in the greater Philadelphia area, hard to believe.
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tomok
Champion Author Portland

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Message Posted: Sep 20, 2012 4:13:00 AM

Crude oil inventories increased, Gasoline inventories decreased, Distillate inventories decreased, Refinery utilization rose 4.2%, Total US oil stocks are up. The trend for fuel prices at the pump is always up!
Big Oil continues to sell fuel and natural gas on the world market for higher prices, there will be NO price reduction for the cost of fuel or natural gas IN the US. 'Coming out of the closet' Chucks lousy, smoke and mirrors, lack of jobs, dog and pony show and in the crapper economy, the jobs are Not here. Chuck's economy is not improving but continues to hurt the population and the job numbers continue to be down – no matter how smoooooth talking Chuck spins those numbers and he can spin them! People will still drive and buy fuel no matter what but it sure helps to have a job too!
The US ‘oil and natural gas resources’ belong to the citizens of this country and are to be used by those same citizens! Speculators, manipulators and the banks continue to unfairly and unjustly make the driving public pay higher prices at the pump for their personal benefit.
How much will gas prices go up and they will rise, the trend is always up with fuel prices. The price at the pump needs to go down to $2/gallon, $3, $3.50/gallon or $4.00 is Not the new low!
Whatever the size or shape of the vehicle, Produce and ‘Drive’ vehicles with high MPG, are very safe, reliable, have a ‘reasonable’ cost and a good ‘value’ for the money.
The price of fuel at the pump is too high!
12/22/2012!
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fillerupyeoww
Champion Author Columbus

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Message Posted: Sep 20, 2012 4:07:02 AM

There will be no more cheap fuel of any kind.
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Jeffro61
Champion Author Cleveland

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Message Posted: Sep 20, 2012 4:04:42 AM

Speculators will still focus on the decrease in gasoline until the crude is refined.
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chuckohio
Champion Author Columbus

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Message Posted: Sep 20, 2012 4:04:20 AM

Could inventories be down because consumption is down?
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Lengas
Champion Author Gary

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Message Posted: Sep 20, 2012 4:04:04 AM

Still waiting for a drop in price here
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BigBearHug
Champion Author Amarillo

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Message Posted: Sep 20, 2012 4:03:32 AM

wow?
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dave364
Champion Author Lansing

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Message Posted: Sep 20, 2012 4:03:29 AM

hang all speculators
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germainesr
Champion Author Columbia

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Message Posted: Sep 20, 2012 4:02:39 AM

Dropped 4 cents here. Wow !!
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GLM4205
Champion Author Toledo

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Message Posted: Sep 20, 2012 4:02:20 AM

Dropped 2 cents only
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LeeFree
Champion Author Pittsburgh

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Message Posted: Sep 20, 2012 4:01:14 AM

Dropped 4 cents here as well. What a savings!!
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scottydoesnt
Champion Author Chicago

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Message Posted: Sep 20, 2012 3:57:57 AM

Gas has dropped a whopping 4 cents over the last week couple days.
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AuburnTim
Champion Author Indiana

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Message Posted: Sep 20, 2012 3:57:33 AM

Hasn't changed the price here at all it is still high and holding
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ILVET
Champion Author Illinois

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Message Posted: Sep 20, 2012 3:55:52 AM

Gas dropped 14 cents here yesterday
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quasar502
Champion Author Lansing

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Message Posted: Sep 20, 2012 3:54:33 AM

Ridiculous stat when you consider NOONE HAS RUN OUT OF GAS. These stats are just speculator excuses.
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P H
Champion Author Albany

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Message Posted: Sep 20, 2012 3:54:10 AM

Prices now backing off highs here.
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neptune2008
Champion Author Michigan

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Message Posted: Sep 20, 2012 3:52:54 AM

and it rides on our broken backs
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Jmac2008
Champion Author Missouri

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Message Posted: Sep 20, 2012 3:50:46 AM

and yet gas prices continue to rise.
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Boo1989
Champion Author Atlanta

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Message Posted: Sep 20, 2012 3:50:45 AM

"Somehow we have to figure out how to boost the price of gasoline to the levels in Europe." steven chu, obama's energy secretary.

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jeff95519
Champion Author California

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Message Posted: Sep 20, 2012 3:49:51 AM

will see
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gasandgoAL
Champion Author Alabama

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Message Posted: Sep 20, 2012 3:47:35 AM

self reliance is what america needs along with working refineries
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Petrock
Champion Author Lexington

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Message Posted: Sep 20, 2012 3:45:40 AM

If they could just get that gas price above $4.00 a gallon, THEN maybe they would startup some of those refineries! There just isn't enough profit in gasoline right now!!!
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tc316
Champion Author Twin Cities

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Message Posted: Sep 20, 2012 3:44:30 AM

Old news
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oas
Champion Author Maryland

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Message Posted: Sep 20, 2012 3:43:34 AM

Oil drops.
Gas doesn't.
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1Boog
Champion Author Lincoln

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Message Posted: Sep 20, 2012 3:43:19 AM

get those refineries online now!! With all that crude it is time for fuel to come down out of the sky for a change!!
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JLSindy
Champion Author Cleveland

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Message Posted: Sep 20, 2012 3:43:04 AM

I agree with much of what everyone says.
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DblChek
Champion Author San Antonio

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Message Posted: Sep 20, 2012 3:42:00 AM


Drill Here.
Refine Here.
Sell Here.
Employ Here.
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aburns20
Champion Author Virginia Beach

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Message Posted: Sep 20, 2012 3:41:44 AM

and yesterday's news article stated that inventories were at an all time low...
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SUPERSTEVIEO
Champion Author Quebec

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Message Posted: Sep 20, 2012 3:41:32 AM

this was predictable...
increased drilling in teh USA, sales of more efficient cars, and increased gas prices have ALL contributd to this supply glut....
now the fact the gas is lower than it coul dor should be... we are not experiencing a shortage... but a supply control - which is permitting teh gas companies to keep prices high... afterall.. they still need to pay fo their infrastructure, and employees salaries... of course, we can't forget their exhortitant profiyts and management bonuses can we!!!
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Dailyrun
Champion Author Kentucky

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Message Posted: Sep 20, 2012 3:41:26 AM

Maybe the prices will fall...
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Quick68
Champion Author Columbus

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Message Posted: Sep 20, 2012 3:41:05 AM

The crude inventories are controled by our government for them to be able to control the price of oil & gas. This is part of the power our lawmakers want no matter who gets hurt.
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Tiput
Champion Author Ottawa

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Message Posted: Sep 20, 2012 3:40:55 AM

ok
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hawkman1950
Champion Author Michigan

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Message Posted: Sep 20, 2012 3:37:11 AM

There's more oil here than we know what to do with.
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ystr
Champion Author New Jersey

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Message Posted: Sep 20, 2012 3:35:37 AM

ok
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TheeRedRam
Champion Author Hartford

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Message Posted: Sep 20, 2012 3:35:17 AM

Hummm
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pbear316
Champion Author Akron

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Message Posted: Sep 20, 2012 3:34:40 AM

Oil inventories are up, but gas inventories are down. Think we don't need more refineries?
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Buddy2264
Champion Author Tampa

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Message Posted: Sep 20, 2012 3:33:16 AM

So they are refining less ?? and keeping the profits up by selling at a higher price and hoping for volume as we are cutting back. Then if not shipping it off to other countries as finished fuels.
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bustermoves
Champion Author Fort Worth

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Message Posted: Sep 20, 2012 3:32:26 AM

ok
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epf
Champion Author Grand Rapids

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Message Posted: Sep 20, 2012 3:31:52 AM

Like a yo-yo.
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4bobux
Champion Author Peoria

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Message Posted: Sep 20, 2012 3:31:28 AM

up, down, whatever... gas is still way too high.
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BEngr
Champion Author Illinois

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Message Posted: Sep 20, 2012 3:30:11 AM

The best news in this article was that crude oil inventories are increasing even when refinery utilization is up. The bad news is that production of gasoline is not matching demand or gasoline inventories would remain constant. This simply means that gas prices will remain high.
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