EIA, Wholesale Sales & Inventories
In our top story tonight, the leader of al-Qaida in Iraq, Abu Musab al-Zarqawi, is STILL dead and someone else has taken his place.
EIA Inventory: Crude -1.1MB; Gasoline -3.2MB; Distillate -200KB.
Inside the number: Coupled with the Lebanon conflict and Prudhoe Bay shutdown, petro futures jumped over $77 a barrel on the draw down.
June Wholesale Inventories +0.8% vs prior +0.9%; Sales +1.4% vs prior +1.9%. Full Report
Inside the number: petroleum inventory -0.1%; sales +6.1%; durable goods inventory +0.5%; sales +0.2% vs prior +2.6% showing a significant pullback in durable goods spending.
However, there is evidence of a positive undercurrent in demand and sales. YOY wholesale inventory +8.1% while sales +13.5%. Durable goods sales YTD06 vs YTD05 +12.8%.
EIA Inventory: Crude -1.1MB; Gasoline -3.2MB; Distillate -200KB.
Inside the number: Coupled with the Lebanon conflict and Prudhoe Bay shutdown, petro futures jumped over $77 a barrel on the draw down.
June Wholesale Inventories +0.8% vs prior +0.9%; Sales +1.4% vs prior +1.9%. Full Report
Inside the number: petroleum inventory -0.1%; sales +6.1%; durable goods inventory +0.5%; sales +0.2% vs prior +2.6% showing a significant pullback in durable goods spending.
However, there is evidence of a positive undercurrent in demand and sales. YOY wholesale inventory +8.1% while sales +13.5%. Durable goods sales YTD06 vs YTD05 +12.8%.
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