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Ahead of the Bell: Oil supplies expected to grow

Associated Press -- ..NEW YORK (AP) — The Energy Department is expected to report on Wednesday that the nation's crude oil supplies grew by 2.5 million barrels in the week ended April 27, according to a survey of analysts by Platts, the energy information arm of McGraw-Hill Cos.

Analysts expect gasoline supplies dropped by 1 million barrels, distillate stocks — which include diesel and heating fuel — shrank by 400,000 barrels and refinery utilization increased by 0.38 percentage point to 85.08 percent of capacity.

The Energy Information Administration releases its weekly report at 10:30 a.m. EDT.

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Submitted May 02, 2012 By: WxVette

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Jeff4U Champion Author Atlanta Posts:8,733 Points:1,849,445 Joined:Nov 2004	Message Posted: May 2, 2012 1:16:03 PM Ignore Jeff4U Report Abuse Pretty close guesswork but even a caveman could have guessed as well.
dgerst Champion Author South Carolina Posts:2,691 Points:553,000 Joined:Aug 2008	Message Posted: May 2, 2012 8:22:43 AM Ignore dgerst Report Abuse Since Supply is up and demand is down, this should also keep prices down.
lcleveland Champion Author San Antonio Posts:2,646 Points:648,025 Joined:May 2011	Message Posted: May 2, 2012 8:20:27 AM Ignore lcleveland Report Abuse ok
Dr Gas Champion Author Twin Cities Posts:3,265 Points:358,080 Joined:May 2004	Message Posted: May 2, 2012 8:16:07 AM Ignore Dr Gas Report Abuse Well good - another reason to RAISE gas prices - right?
Evilmaddog Champion Author British Columbia Posts:3,307 Points:954,625 Joined:Aug 2010	Message Posted: May 2, 2012 8:04:16 AM Ignore Evilmaddog Report Abuse more for the crooks to export...next week they'll report low supply then increase prices