Wednesday, March 3, 2010

Heating Oil Inventory Draw

API reported Distillate stocks down 4 mm bbl.s......
I wonder if they count these?

 Vitol Group Owns 25% of Oil Products Stored on Ships, EIG Says

March 3 (Bloomberg) -- Vitol Group, a closely held commodities trader, owns almost 25 percent of the refined products stored on ships, Energy Intelligence Group Inc. reported, citing a survey by a tanker broker.
Geneva-based Vitol stored almost 20 million barrels of oil products of a total of 79 million barrels identifiable on ships in the third week of February, EIG said, citing data from ACM Shipping Group Plc.
Trafigura Beheer BV had almost 11 million barrels of refined products on tankers and Royal Dutch Shell Plc owned 10 million barrels, EIG reported. Jet fuel accounted for 13 million barrels of the fuel in storage with most of the rest being diesel and heating oil, EIG said.
Of the 102 vessels used for storing oil products, 11 were very large crude carriers that are likely holding 1.9 million barrels of diesel and heating oil, according to the report.

Here's a little something to go with the above. Go to the DOT
Are they plowing yet?

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