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Crude Oil Report Crude Oil Report: Brent Breakdown Confirmed, Prices May Fall To $115 As Economic Worries Weigh- Written by Sumit Roy |
- April 11, 2012
Crude Oil Report: Brent Breakdown Confirmed, Prices May Fall To $115 As Economic Worries Weigh
- Details
Turning to this week’s EIA inventory figures, total petroleum inventories in the U.S. fell by 3.9 mmbbl, against the five-year average of a 1 mmbbl decline. In turn, the inventory surplus fell to 52 mmbbl, or 5.1 percent.
Crude oil inventories rose by 2.8 mmbbl, against the five-year average of a 0.3 mmbbl increase. In turn, the surplus in the crude category rose to 20 mmbbl, or 5.8 percent.
Regionally, inventories inside the Midwest fell, while those outside the region rose.
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