US Refineries ran At 87.8%, right in-line with a Dow Jones target of 87.80 and down only 0.1% from the 87.9% of a week ago.
Crude Oil supply grew by 2.46 million barrels to 365.146 million barrels, and Dow Jones was looking for a mere gain of 100,000 barrels and we had expected a +/- 200,000 range.
Gasoline inventory was also a surprise draw of 203,000 barrels down to 221.63 million barrels, when Dow Jones was calling for 0.1% and when we had been told to look for a build of even more than that as inventories build going into a very high-demand week of gasoline use.
Distillate Stocks fell by 267,000 barrels to 152.543 million barrels, but the Dow Jones estimate was relatively a flat call.
NYMEX WTI Crude is now up $2.60 on the day and trading at $71.35 per barrel. Oil Services HOLDRs (NYSE: OIH) is up almost 2% at $102.45 and the United States Oil (NYSE: USO) is up 2.5% at $32.65.
As far as the refineries, Valero Energy Corp. (NYSE: VLO) is up 2.5% at $17.81, Sunoco Inc. (NYSE: SUN) is up 2.3% at $28.74, and Hess Corporation (NYSE: HES) is up only 0.98% at $42.74.
JON C. OGG
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