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0 comments Wednesday 27 Feb 2008 | Posted By Patrick | Predictions

Its very good news this time of year when the DOE releases a “favorable” report like they did moments ago at the normal 10:30am time. Highlights: Cons: Refineries operated at a low (albeit slightly higher than last week) 84.7% of capacity last week Pros: Crude oil inventories rose by 3.2 million barrels last week. At [...]

0 comments Thursday 21 Feb 2008 | Posted By Patrick | Predictions

Before opening the DOE report today, one day later than normal because of President’s Day, I thought how much today’s report could either help or hurt. Well, after reading through all the numbers and descriptions, I think is report is some much needed good news; however, it does not come without some concerns. My concern: [...]

0 comments Wednesday 06 Feb 2008 | Posted By Patrick | Predictions

Wow… today’s DOE report was a terrific read. I read a lot of good news from this week’s report on petroleum inventories.As typical, let me highlight some of it: Pros Oil inventories rose by 7 million barrels, pushing them into the middle of the average range Gasoline inventories rose by 3.6 million barrels, keeping them [...]

0 comments Sunday 30 Dec 2007 | Posted By Patrick | Commentary

As 2007 comes to a close, lets go over a brief review (seems like EVERYONE is doing a review of 2007- in pictures, in news, WHAT ELSE? Gasoline!) >High Price for Regular Unleaded was $3.65 on May 29, 2007>High Price for Diesel was $3.65 on November 19, 2007 >Low Price for Regular Unleaded was $1.85 [...]

0 comments Wednesday 19 Dec 2007 | Posted By Patrick | Predictions

It’s Wednesday! I’m sure many of you know that means the Department of Energy releases its weekly petroleum report! Lets take a peek at what this weeks report contained: Well first, BP’s Toledo refinery came back online. This was echoed in the Midwest PADD numbers. The Midwest’s inventory of gasoline is at its largest number [...]

1 comment Wednesday 31 Oct 2007 | Posted By Patrick | Predictions

Last week brought an unexpected jump in gasoline stockpiles! Analysts were predicting a drop of 400,000 barrels while a jump of 1.3 million barrels actually occurred. Demand is flat over last year as prices remain high. We may see oil continue to climb as we saw another drop in crude oil inventories. However, we’re still [...]