Oil unexpected increase in reserves of crude

Surprise, surprise ... according to information provided by the U.S. Department of Energy (DoE) stocks of crude oil grew last week the United States more important than analysts predicted.

Changes in stocks followed the same trend, while reserves in distilled products have declined. Daily Finance and Investment Tips ( Make Money by Learning )
The reserves of crude rose 7.3 million barrels to 320.8 million barrels during the week ending Nov. 21.

Analysts surveyed by Dow Jones Newswires agency in turn builds on an increase of only 900,000 barrels.

Inventories are now 6.2% above their levels last year, according to the DoE.

Gasoline stocks rose 1.9 million barrels to 200.5 million barrels. Analysts expect again an increase much less strong in the order of 100,000 barrels. They are now 1.1% below their level a year ago.

The stocks of distilled products (diesel and heating oil) have however declined by 200,000 barrels to 126.7 million barrels, analysts predicted a drop larger, estimated at 800,000 barrels.

Main factor leading to the observed phenomenon: the fall in demand induced by the poor state of the U.S. economy.

Of the last four weeks, the U.S. population consumed an average 19.2 million barrels per day of petroleum products, a decrease of 6.6% in annual slippery. The consumption of gasoline has declined notably by 2.8%, and the distilled products of 2.2%.

Sign of the times that heralds significant financial difficulties for both airlines for aircraft manufacturers Airbus and Boeing as the consumption of kerosene fell by 17.7% when comparing the observed past four weeks compared to those achieved during the same period in 2007.

U.S. refineries have in turn accelerated their pace, running at 86.2% of their capacity against 84.9% the previous week.