US petroleum data released Wednesday was seen as bullish and the oil price rallied as a result. On the face of it, the US market got a little tighter as overall stock levels fell 5 million barrels from the previous week. Product stocks fell more than expected while crude stocks rose a moderate 1.4 million bbl, which is to be expected as US refineries are in spring turnaround and runs are below 14 million b/d. More crucially, implied US oil demand is up some 700,000 b/d from a very weak spring last year. But the bulk of that is "other products," including industrial fuel. Economists are pointing out that this increase might be just a temporary rise as it replenishes depleted stocks. Nevertheless, even pessimistic Opec sees year-on-year global oil demand now rising by 900,000 b/d in 2010, which is 100,000 b/d more than previously thought. David Knapp, New York