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Gas and Oil

Gas and Oil

Posted: 02 Mar 2010 06:35 PM PST

No big changes in the numbers this week

Hi to all...

I won't bother you all with working on a press release for this one.

No big changes this week.

Numbers show a drop in heating and stove oils by 27/100ths of a cent, gasoline to increase by just a penny and diesel prices to remain the same.

Of note in the markets this week:

*The Canadian dollar has gained almost 2.24 cents against the US greenback.
*Last inventory report from the US Energy Information Administration showed an increase in crude oil inventories of 3 million barrels. The same report also showed a drawdown in gasoline and distillate inventories, possibly an indicator of increasing demand. Gasoline consumption is close to 3/10ths of a percentage point below last year.
*Refinery capacity also increased this past week, reaching 81.2% of operable capacity.
*Total of the product supplied against last years numbers shows a drop in imports into the US markets, possibly another indicator of the industry trying to stymie any increase in an already excess inventory. That move is also helping to support prices.

That's it for now!

Don't forget to scroll back and have a look at the local heating oil prices. You'll find quite a difference!

Regards for now,

George

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