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0 comments Wednesday 21 May 2008 | Posted By Patrick | Predictions

Today’s DOE report was just about as bad as they get. The government’s report showed oil inventories posting a surprising loss of well over 5 million barrels, while gasoline stockpiles fell as well even though refineries operated at slightly higher utilization than the previous week. Despite high prices, gasoline demand was report to only be [...]

2 comments Wednesday 26 Mar 2008 | Posted By Patrick | Predictions

Seeing as how refiners were losing money for parts of this week refining oil into gasoline, utilization was low. It is rare, but refiners were losing some money last week as the cost of a barrel of oil was *more expensive* than the cost of their finished gasoline. They were losing cents on refining every [...]

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 09 Jan 2008 | Posted By Patrick | Commentary

With the DOE’s weekly energy report being released just moments ago, here are some highlights: >Refinery Utilization… YES!! Finally! 91.3% of capacity. This is JUST what we needed to slow the rise in gas prices!>Gasoline Demand… rose 0.4% compared to the same time last year, which is quite surprising… last year we had (I’m sure [...]