Light product stocks grew through July

08/16/2010
Light product inventories—gasoline, distillate, and jet fuel—grew for 9 consecutive weeks through the end of July "due to high production levels, increased gasoline imports (including blend stocks), and lackluster demand," said Jacques Rousseau, managing director of equity research, RBC Capital Markets, Reston, Va.The Energy Information Administration reported commercial US crude inventories fell 2.8 million bbl to 358 million bbl in the week ended July 30. That exceeded the Wall Street consensus for a drop of 1.7 million bbl. Gasoline stocks advanced 700,000 bbl to 223 million bbl despite traders' expectations of a 1 million bbl loss. Distillate fuel inventories cli...
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