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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 Thursday 14 Feb 2008 | Posted By Patrick | Predictions

After watching the market the last week, I’m semi-convinced that we’re starting to see the “Spring Run-up” in prices. Last week gasoline traded roughly 20 cents cheaper on the wholesale market, and today, we’re at 2.40+ on the wholesale market. Last year, the run-up began in late January/early February. The question is- how high will [...]

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 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 [...]

0 comments Thursday 23 Aug 2007 | Posted By Patrick | Commentary

Just took a glance at yesterdays DOE numbers once more and it looks like the Midwest PADD numbers have fallen back down to 46+ million barrels. This is the lowest we’ve seen in some time and could add 10-15 cents per gallon until local refiners kick it into high gear. Apparently refineries in the Midwest [...]