Petroleum Inventory Report 6-25-08

Crude Oil up 800,000 barrels
Gasoline down 100,000 barrels
Distillates up 2.8 million barrels
Refinery Utilization 88.6% down 0.7%

August Brent crude rose $2.86 to settle at $134.86 a barrel on the ICE Futures Exchange.

Light, sweet crude for July delivery rose $2.69 to settle at $134.62 a barrel on the New York Mercantile Exchange.

Valero Awarded Military Contract

The Defense Department said late Wednesday that the Defense Logistics Agency awarded Valero Marketing & Supply Co., a unit of Valero Energy Corp., a $28.5 million contract to supply aviation fuel for the military.

Petroleum Inventory Report 6-18-08

Crude Oil down 1.2 million barrels
Gasoline down 1.2 million barrels
Distillates up 2.6 million barrels
Refinery Utilization 89.3% up 0.7%

Petroleum Inventory Report 6-11-08

Crude Oil down 4.6 million barrels
Gasoline up 1 million barrels
Distillates up 2.3 million barrels
Refinery Utilization 88.6% down 1.1%

Oil Surges Past $134 On Weak USD

Oil & Natural Gas Headlines

Oil Surges 13% In Two Days..........

Weakness in the USD and renewed conflicts in the Middle East spurred oil to new record highs. Crude oil gained more than $16 a barrel during the two day rally.

Petroleum Inventory Report 6-04-08

Crude Oil down 4.8 million barrels
Gasoline up 2.9 barrels
Distillates up 2.3 million barrels
Refinery Utilization 89.7% up 1.8%