Petroleum Status Report 10-31-07

Crude down 3.9 million barrels
Gasoline up 1.3 million barrels
Distillates up 800,000 barrels
Refinery Utilization 86.2%

Oil Continues To Hit Record Levels...........

Light, sweet crude for December delivery gained $1.40, to $91.86 a barrel in trading on the NYMEX.

Petroleum Status Report 10-24-07

Crude down 5.3 million barrels
Gasoline down 2 million barrels
Distillates down 1.8 million barrels
Refinery Utilization 87.1%

Petroleum Status Report 10-17-07

Crude up 1.8 million barrels
Gasoline up 2.8 million barrels
Distillates up 1 million barrels
Refinery Utilization 87.3% down 0.5%

In Tuesday's trading, U.S. crude settled up $1.48 at $87.61 a barrel, pulling back from the earlier record high of $88.20. London Brent crude oil rose $1.41 to $84.16 a barrel.

The White House is now expressing concern over rising oil prices.....

White House Press Secretary Dana Perino stated on Tuesday.....

"There is no doubt that energy prices are too high. They disproportionately hurt low-income families that have to spend so much of their money on energy",........"We watch it closely, we're very concerned."

November Crude Oil Hits Record High

November light, sweet crude jumped $2.44 to settle at a record $86.13 a barrel on the New York Mercantile Exchange

November crude hit an intra day high of $86.22, an all time record.

OPEC stated on Monday that production among non-OPEC nations is declining, despite increasing demand.

OPEC expects 4th quarter production by non-OPEC countries to decline by 110,000 barrels.

Petroleum Status Report 10-11-07

Crude down 1.7 million barrels
Gasoline up 1.7 million barrels
Distillates down 600,000 barrels
Refinery Utilization 87.8%

November crude pulled back on Monday dropping $2.20, or 2.7%, to close at $79.02 a barrel on the NYMEX.

November Crude Oil Technical Levels

Resistance: $81.75 and $83.76

Support: $80.03 and $78.44

Petroleum Status Report 10-03-07

Crude up 1.2 million barrels
Gasoline down 100,000 barrels
Distillates down 1.2 million barrels
Refinery Utilization up .6% to 87.5%