Crude Oil: what are last week’s results for the US?

Market Leader informed

The production of gasoline grew up to 9.1M barrel a day on average. The average daily production of fuel distillates, on the contrary, declined in volume down to 3.4M barrel a day.

·         The US crude oil inventories (excluding the strategic reserves) increased by 1.9M barrels as compared with the previous week, reaching 345,1M barrels, which is above average for this time of the year. Last week the gasoline inventories gained 4.7M barrels. Now the value is at the top of the average range. The distillate inventories lost in volume 0.3M barrels. The inventories of propane/propylene declined by 3.1M barrels, which is below the average value. The net inventories of oil products grew by 3.2M barrels.

·         Over the last month the oil product supplies have reached 19.1M barrels a day on average, which is 0.8% more than during the same period of 2010. Over the last month the average daily demand for gasoline has made up 8.6M barrels a day, which is 0.3% less than over the same period of 2010. The average demand for distillates over the same period of time (4 weeks) has been 3,7M barrels a day, which is 0.1% lower than in 2010.

For investors: will coffee grow in price?

Market Leader informed

In the near-term perspective the pieces on coffee will depend on the problems affecting the production volume (low reserves, unfavorable weather conditions and sick coffee plants) in numerous coffee-exporting countries around the world (for details read the article “Coffee market: perspectives for investors”).  Consequently, the coffee prices are expected to see further growth, showing a delicate balance of supply and demand.

The average monthly value of the ICO Composite indicator price grew from $184,26 per pound in December 2010 up to $197,35 per pound in January 2011 (a 7.1% increase). The ICO Composite indicator price is equal to the arithmetic mean value of the daily prices for some specific kinds of coffee (like Mild Arabicas and Robusta), calculated in accordance with the export share of each type determined by the ICO (the calculations are based on the values shown by the coffee markets of the US, France and Germany). The current value is the highest since September 1994. The index value has already gained 55% as compared to the value seen in January 2010. Moreover all the 4 kinds of coffee (Colombian Milds, Other Milds, Brazillan Naturals, Robustas) have seen their prices growing. The given statistics confirm the bullish tendency at the global market of coffee.