DOE CRUDE STATS | April 22, 2009

Another bearish week

DOE CRUDE STATS DOE Stats: Another bearish inventory build, combined with huge counter-seasonal product builds and still-faltering demand indicate the market turning point will come late in Q2 at earliest. Crude: +3857k bbls, all East of Rockies, vs. expected +2500k and vs. last year (+2421); SPR stocks grew by another 1.2m bbls. Cushing +309k bbls, first increase since mid March but still above any similar period in the past. Gasoline: + 802k bbls, vs. expected (-700k bbls) and 4......