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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 [...]

0 comments Monday 10 Dec 2007 | Posted By Patrick | Commentary

Only a month late to finish a complete restart (original deadline was 11/15), BP will finish its planned maintenance at its Toledo, Ohio refinery. With Midwest and Nationwide gasoline stockpiles suffering, the time couldn’t be better. The capacity at the refinery is 160,000bpd. According to Reuters, the refinery should be completely operational by the end [...]

0 comments Monday 10 Dec 2007 | Posted By Patrick | Predictions

As we work our way down to 2.79 and possibly lower, keep in mind that a price hike will near as we get closer to 2.75. Gasoline futures have dropped so the prices will follow, but keep in mind, we’re still not in the best shape… I’ll be somewhat penciling in a hike for later [...]

0 comments Wednesday 05 Dec 2007 | Posted By Patrick | Predictions

DOE report was just released… Highlights: >Crude oil inventories dropped 8 million barrels. However, they are still in the upper half of the average range for this time of year.>Gasoline inventories rose 4 mllion barrels. However, they are still below the lower end of the average range for this time of year.>Distillate inventories rose 1.4 [...]

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 [...]

0 comments Wednesday 12 Sep 2007 | Posted By Patrick | Predictions

…is that the Midwest PADD was up again! This week rising from 46.3 million barrels to 47.7 million. While gasoline stockpiles fell in most other locations, Midwest storage rose a very nice size chunk! We should see prices come down more, even factoring in the market increases today. Overall, the DOE report was miserable. Oil [...]