Petroleum Inventory Report 8-27-08

Crude Oil down 100,000 barrels
Gasoline down 1.2 million barrels
Distillates --unchanged
Refinery Utilization 87.3% up 1.6%

Petroleum Inventory Report 8-20-08

Crude Oil up 9.39 million barrels
Gasoline down 6.2 million barrels
Distillates up 500,000 barrels
Refinery Utilization 85.7% down .2%

Petroleum Inventory Report 8-13-08

Crude Oil down 400,00 barrels
Gasoline down 6.4 million barrels
Distillates down 1.7 million barrels
Refinery Utilization 85.9% down 1.1%

Oil is down almost 22 percent from the record-high of $147.27 on July 11. The New York futures contract traded near 115 on Friday.

The next level of technical support for West Texas Intermediate Crude Oil is the 200 day moving average of $109.54

Petroleum Inventory Report 8-06-08

Crude Oil up 1.6 million barrels
Gasoline down 4.3 million barrels
Distillates up 2.8 million barrels
Refinery Utilization 87% down .2%

Crude Oil Continues To Retreat