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191 comments on DrumBeat: January 31, 2007

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Calorie on January 31, 2007 - 11:46am Permalink | Subthread | Parent | Comments top

Given the numbers that just came out -

crude: +2.7 million barrels
gasoline: +3.8 million barrels
distillates: -2.6 million barrels
total commercial petroleum inventories: +0.3 million barrels

there must be another explanation for the smirk.

Predicting the weekly inventory changes, let alone the direction of the changes, is like rolling dice. Even the analysts, who watch this stuff very closely, are all over the map every week.

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Dragonfly41 on January 31, 2007 - 12:20pm Permalink | Subthread | Parent | Comments top

Ya...saw that...bit of a surprise.

I guess Cheney's smirk indicates that he just gets his rocks off when hearing talk about energy.

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Dragonfly41 on January 31, 2007 - 12:31pm Permalink | Subthread | Parent | Comments top

Although, this makes no sense at all, but crude prices are going up...go figure...there is no rhyme or reason in crude prices these days.

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jjhman on January 31, 2007 - 1:47pm Permalink | Subthread | Parent | Comments top

I thought the upswing might be related to the news on Cantarell

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Dragonfly41 on January 31, 2007 - 2:27pm Permalink | Subthread | Parent | Comments top

I think the MSM is pinning it on the Y2Y increase in demand.

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