Wednesday, September 27, 2006

Today's Energy Stats

The E.I.A. reported that gasoline inventories had a build of 6.34 million barrels, versus the consensus for a build of 700K barrels. Crude oil had a draw of 109k barrels vs. consensus of 1.7M draw.

So this report shows that inventories are running higher than expected, and that should weigh on the prices of the underlying commodities. For consumers, this should help falling prices at the pump, which is a good psychological indicator for consumer spending.

This could also help put a bid under the equity markets, away from the energy complex.


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