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Ahead of the Bell: Oil reserves expected to grow

Business Week -- The government is expected to report Wednesday a 1.1 million barrel increase in commercial crude oil supplies for the week ended Aug. 20, according to a survey by Platts, the energy information arm of McGraw-Hill Cos.

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

Platts said analysts predicted gasoline stockpiles will shrink by 875,000 barrels, distillate stocks -- including diesel and heating oil -- will increase by 950,000 barrels and refinery utilization will dip by 0.5 percentage point to 89.5 percent.

A reading above or below estimates can influence market trading.

For the week that ended Aug. 13, the department said crude supplies shrank by 800,000 barrels to 354.2 million barrels; gasoline inventories were nearly unchanged at 223.3 million b

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Submitted Aug 26, 2010 By: PDQBlues

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honda0105 Champion Author Tallahassee Posts:15,252 Points:1,141,025 Joined:Nov 2008	Message Posted: Aug 27, 2010 3:25:06 AM Ignore honda0105 Report Abuse Funny how usually the people who scream for LESS regulation in their personal lives are demanding MORE regulation for specutraitors and Pig Oil. Hmmm...
CobraLeader Champion Author New Jersey Posts:267,902 Points:1,200,750 Joined:Apr 2007	Message Posted: Aug 26, 2010 9:18:43 PM Ignore CobraLeader Report Abuse ... zzz zzz zzz ...
danreino Champion Author Twin Cities Posts:6,270 Points:1,142,195 Joined:Mar 2008	Message Posted: Aug 26, 2010 9:08:05 PM Ignore danreino Report Abuse Well that cant be possible because prices just went up today; so.......PS THANK YOU 1988MR2GUY [Edited by: danreino at 8/27/2010 12:09:50 AM EST]
1988MR2guy Champion Author California Posts:4,395 Points:714,665 Joined:Oct 2009	Message Posted: Aug 26, 2010 9:00:11 PM Ignore 1988MR2guy Report Abuse Makes no matter what the data may say. Traders will do what traders do. Manipulate, maneuver, and steal. Yes, steal. From you, from me, from everyone out here in the Real World trying to make ends meet as the traders play with the price of our gasoline, our electric power, our food, and the very fabric of our society. It does no good to speak out against it. The government is not listening, and does not care even if they DO hear what we are saying. If the government listened; if the government cared, we would not have Obamacare; we would not be suffering under the anti-capitalist, anti-business Marxist environment that has a stranglehold on our economy and our daily lives while the President of the United States plays golf, takes vacations every other week, flies where he can be driven, ignores the plight of the American people and continues to wallow in his arrogant self-centered disregard for everything that is not himself. Did you know that you are allowed to claim up to NINE personal exemptions on your W-4 at work and increase your take-home pay accordingly? Why do this?? 1. put the money in YOUR savings account and not that of the IRS. 2. DO NOT PAY YOUR FEDERAL INCOME TAX until the DAY IT IS DUE. DO NOT give THEM the use of YOUR money until legally required so to do. Note: I am NOT advocating tax evasion (illegal) or even tax avoidance (legal). Just do what the law PERMITS YOU TO DO and keep AS MUCH of YOUR money in YOUR pocket as the law will allow, and DO NOT PAY THEM UNTIL LEGALLY REQUIRED (normally April 15 each year for the preceding tax year for most individual and joint personal income tax filers). Yes. It's a bit of a protest. Sort of like this: TO THE GOVERNMENT -- IF YOU WON'T DO WHAT WE THE PEOPLE PAY YOU TO DO AND WHAT WE THE PEOPLE (YOUR EMPLOYER!) WANT YOU TO DO, THEN WE THE PEOPLE ARE NOT GOING TO PAY YOU UNTIL THE LAST POSSIBLE INSTANT. It will be a start.
OGW Champion Author London Posts:3,337 Points:1,111,980 Joined:Sep 2005	Message Posted: Aug 26, 2010 8:58:20 PM Ignore OGW Report Abuse Everyone is still trying to manipulate a product that is in a downturn just to keep prices unjustifibly high.
DustyHorse Champion Author Virginia Posts:4,011 Points:978,115 Joined:Oct 2008	Message Posted: Aug 26, 2010 8:56:41 PM Ignore DustyHorse Report Abuse I want the speculators to run up prices in the short term so the bubble will burst and they will lose lots of money.
MiniFan Champion Author California Posts:2,223 Points:749,050 Joined:Nov 2008	Message Posted: Aug 26, 2010 8:55:50 PM Ignore MiniFan Report Abuse more inventory the better
gasaholicMO Champion Author Missouri Posts:2,416 Points:469,750 Joined:Apr 2010	Message Posted: Aug 26, 2010 8:53:30 PM Ignore gasaholicMO Report Abuse Speculation makes the market run wild.
TRAIN RIDER Champion Author San Bernardino Posts:6,763 Points:2,297,910 Joined:Oct 2004	Message Posted: Aug 26, 2010 8:47:08 PM Ignore TRAIN RIDER Report Abuse MAYBE THIS WILL KEEP PRICES FROM RISING.
ItsMorph Champion Author Grand Rapids Posts:30,077 Points:2,720,080 Joined:Mar 2004	Message Posted: Aug 26, 2010 8:42:05 PM Ignore ItsMorph Report Abuse
ScottTee Champion Author Detroit Posts:2,083 Points:601,200 Joined:Mar 2010	Message Posted: Aug 26, 2010 8:33:31 PM Ignore ScottTee Report Abuse it's all BS
PetroScopper Champion Author Houston Posts:4,361 Points:1,089,725 Joined:Aug 2008	Message Posted: Aug 26, 2010 8:32:12 PM Ignore PetroScopper Report Abuse That's great news for the consumer!
EVBuddy Champion Author Nevada Posts:14,333 Points:2,567,565 Joined:Sep 2004	Message Posted: Aug 26, 2010 8:31:05 PM Ignore EVBuddy Report Abuse Headline Oil reserves should read Oil Stockpiles. Reserves are not growing.
RENEGADEGAS Champion Author Missouri Posts:12,049 Points:1,126,105 Joined:Jul 2008	Message Posted: Aug 26, 2010 8:29:26 PM Ignore RENEGADEGAS Report Abuse The first story in line says its all going up? What gives?
96sc1 Champion Author El Paso Posts:7,440 Points:1,141,455 Joined:Mar 2008	Message Posted: Aug 26, 2010 8:27:54 PM Ignore 96sc1 Report Abuse Where do they keep all this stuff?
mstearno Champion Author Dayton Posts:5,862 Points:1,285,210 Joined:Jan 2008	Message Posted: Aug 26, 2010 8:26:15 PM Ignore mstearno Report Abuse so why a 20 cent jump today in Dayton Ohio?
signwiz Champion Author Indiana Posts:1,395 Points:1,349,080 Joined:Feb 2006	Message Posted: Aug 26, 2010 8:24:36 PM Ignore signwiz Report Abuse it did.
Bus561 Champion Author Lexington Posts:14,071 Points:2,752,030 Joined:May 2004	Message Posted: Aug 26, 2010 8:16:15 PM Ignore Bus561 Report Abuse If oil reserves are expected to grow, then why is the barrel price all of sudden going up once again?
mfeldstein Champion Author Ottawa Posts:6,112 Points:1,522,585 Joined:Feb 2007	Message Posted: Aug 26, 2010 8:16:02 PM Ignore mfeldstein Report Abuse And therefore, gas prices should be dropping. Not!
zeddieiv Champion Author Columbia Posts:5,651 Points:1,490,920 Joined:Oct 2006	Message Posted: Aug 26, 2010 8:14:43 PM Ignore zeddieiv Report Abuse good news
oldiesman Champion Author New York Posts:4,211 Points:1,762,950 Joined:May 2006	Message Posted: Aug 26, 2010 8:03:43 PM Ignore oldiesman Report Abuse Yippee, meanwhile they economy is getting worse and worse, and anybody who says it's not better wake up and smell the Coffee.
ricker8 Champion Author Ontario Posts:3,128 Points:675,325 Joined:Oct 2008	Message Posted: Aug 26, 2010 8:02:59 PM Ignore ricker8 Report Abuse I sure hope that the prices at the pumps will soon reflect the surplus amount of oil that is just sitting around. We could all use a break at the pumps for a change
Lukus Champion Author Halifax Posts:6,021 Points:1,215,535 Joined:Nov 2007	Message Posted: Aug 26, 2010 8:02:18 PM Ignore Lukus Report Abuse If the reserves are up one would expect prices to come down a bit.
JoseM All-Star Author San Bernardino Posts:890 Points:605,010 Joined:Apr 2009	Message Posted: Aug 26, 2010 7:48:59 PM Ignore JoseM Report Abuse The economy is on a stand still, things are getting worst. Of course oil reserves are going to grow.
panama303 All-Star Author Denver Posts:790 Points:267,020 Joined:Jan 2005	Message Posted: Aug 26, 2010 7:48:31 PM Ignore panama303 Report Abuse So which report has the most credibility? Oh ya, in this industry, no one has any credibility ever.
abcdMA Champion Author Worcester Posts:5,614 Points:1,113,275 Joined:Nov 2008	Message Posted: Aug 26, 2010 7:43:35 PM Ignore abcdMA Report Abuse so this would indicate that lower gas prices are coming, contrary to the other article now posted
Ken2OD Champion Author Grand Rapids Posts:6,673 Points:1,506,000 Joined:Dec 2005	Message Posted: Aug 26, 2010 7:40:30 PM Ignore Ken2OD Report Abuse How does this report stack up against the weekly DOE report that comes out on Tuesdays. I detect a slight conflict of information here.
BKool Champion Author Michigan Posts:4,526 Points:1,753,300 Joined:Aug 2005	Message Posted: Aug 26, 2010 7:30:02 PM Ignore BKool Report Abuse wow...
waynemustang Champion Author Indiana Posts:4,661 Points:1,236,205 Joined:Nov 2006	Message Posted: Aug 26, 2010 7:29:08 PM Ignore waynemustang Report Abuse Big oil reserves is good for security.
paulydel Champion Author Delaware Posts:6,778 Points:686,970 Joined:Jan 2008	Message Posted: Aug 26, 2010 7:27:48 PM Ignore paulydel Report Abuse So much BS.
MRED3 Champion Author Jacksonville Posts:3,626 Points:803,345 Joined:May 2009	Message Posted: Aug 26, 2010 7:26:55 PM Ignore MRED3 Report Abuse it's all a numbers game and whoever comes the closes wins
PissedCanuck Champion Author Toronto Posts:5,138 Points:1,192,210 Joined:Nov 2006	Message Posted: Aug 26, 2010 7:26:10 PM Ignore PissedCanuck Report Abuse More like behind the bell. Old news.
saleboss Champion Author Phoenix Posts:2,852 Points:963,585 Joined:Feb 2006	Message Posted: Aug 26, 2010 7:18:13 PM Ignore saleboss Report Abuse We heard this news yesterday in the DOE report!
knot2swift Champion Author Calgary Posts:2,428 Points:412,535 Joined:Nov 2009	Message Posted: Aug 26, 2010 7:16:57 PM Ignore knot2swift Report Abuse Ya but this is Thursday and the prices haven't changed. Old news...Let me guess...Was found as a message in a bottle. [Edited by: knot2swift at 8/26/2010 10:17:27 PM EST]
firechief Champion Author New York Posts:1,802 Points:1,665,170 Joined:Mar 2004	Message Posted: Aug 26, 2010 7:12:06 PM Ignore firechief Report Abuse such a false article
DrLyon Champion Author Michigan Posts:4,440 Points:751,905 Joined:May 2006	Message Posted: Aug 26, 2010 7:10:22 PM Ignore DrLyon Report Abuse Will my next car be electric...
amearly Champion Author Michigan Posts:9,745 Points:2,002,580 Joined:Jan 2006	Message Posted: Aug 26, 2010 7:09:13 PM Ignore amearly Report Abuse And yet the price are going up again because the speculators are not being regulated and made to take deilvery of there product just pay 5% and hold a piece of paper.
Zankou Champion Author Pennsylvania Posts:1,244 Points:494,550 Joined:Dec 2008	Message Posted: Aug 26, 2010 7:07:10 PM Ignore Zankou Report Abuse Think of how much reserve we would have if we got rid of all the SUV's !!
Bleeder Champion Author Virginia Posts:6,128 Points:1,267,655 Joined:Jan 2008	Message Posted: Aug 26, 2010 7:05:51 PM Ignore Bleeder Report Abuse Use is down right now and all storage is growing. Prices should be plunging at the pump.
Jo120 Champion Author Arizona Posts:4,242 Points:1,475,330 Joined:Mar 2005	Message Posted: Aug 26, 2010 7:00:22 PM Ignore Jo120 Report Abuse Good! Keep conserving and maybe the reserves will grow some more.
methaneman Champion Author Minnesota Posts:1,787 Points:1,093,050 Joined:May 2002	Message Posted: Aug 26, 2010 6:59:04 PM Ignore methaneman Report Abuse Even a slight sign or hint of a cloud in a crystal ball will send prices sky rocketing!
regasaz Champion Author Phoenix Posts:3,651 Points:840,710 Joined:Dec 2006	Message Posted: Aug 26, 2010 6:49:20 PM Ignore regasaz Report Abuse Oil & Gasoline stockpiles seem to have little to no effect on pum[mprices anymore.
defcon7 Champion Author St. Louis Posts:1,557 Points:197,525 Joined:May 2009	Message Posted: Aug 26, 2010 6:46:29 PM Ignore defcon7 Report Abuse They are supposed to already be at a record high! Hasn't helped the consumer price much, that's for sure.
katiejayWV Champion Author West Virginia Posts:1,858 Points:713,225 Joined:Nov 2008	Message Posted: Aug 26, 2010 6:43:30 PM Ignore katiejayWV Report Abuse Prices should be based on supply and demand. But it is not.
TFowler513 Champion Author Memphis Posts:2,582 Points:976,260 Joined:Mar 2008	Message Posted: Aug 26, 2010 6:42:02 PM Ignore TFowler513 Report Abuse More propaganda for the market manipulators.
swrestler Champion Author Grand Rapids Posts:3,775 Points:1,104,275 Joined:Oct 2008	Message Posted: Aug 26, 2010 6:36:10 PM Ignore swrestler Report Abuse I agree with DEG......
DEG Champion Author Las Vegas Posts:15,392 Points:3,053,405 Joined:Jul 2003	Message Posted: Aug 26, 2010 6:33:15 PM Ignore DEG Report Abuse Big Oil will just manipulate the supplies to keep prices high.
paulg72 Champion Author Boston Posts:1,558 Points:543,375 Joined:Apr 2010	Message Posted: Aug 26, 2010 6:32:52 PM Ignore paulg72 Report Abuse Oil has been fluctuating with the stock market if stocks are higher oil is higher.
WIPACKERFAN Champion Author Chicago Posts:6,480 Points:1,383,835 Joined:Aug 2005	Message Posted: Aug 26, 2010 6:32:50 PM Ignore WIPACKERFAN Report Abuse This is to be expected as the summer driving season is about to end in a few weeks. No surprise here.
schatzila Champion Author Los Angeles Posts:2,698 Points:571,950 Joined:Jun 2010	Message Posted: Aug 26, 2010 6:30:28 PM Ignore schatzila Report Abuse That's good news, right?