EIA's Report

Published 03/04/2008, 07:00 PM

Previous: 3.2 Million Barrels
 
Forecast: 2.4 Million Barrels
 
Analysis

Expectations of further rise in US stockpile later today to be revealed by the weekly EIA report will have its weight in markets, which is expected to become the consecutive eight-week buildups. Crude inventories are projected to have risen 2.4 million barrels last week, and another 0.9 million rise in motor gasoline which are already at a 14-year high; it remains now of concern as refineries usually at the end of February and early March begin to adjust their output and shift to less heating oil and more gasoline as the summer driving season will be on the door step.

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