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Wednesday, October 21, 2015

Kemp's Weekly Fossil Fuel Tweets -- October 21, 2015; Fascinating Observations

Residual fuel oil stocks trending higher; at highest seasonal level since 2006.

Propane stocks appear to be peaking but still at record; + 20 million bbls above prior-eyar level.

US distillate stocks draw hard (-2.6 million bbls) eroding surplus over 2014 9(+19.3 million bbls) and 10-year average (+14.9 million bbls).

US gasoline stocks only slightly higher than last year once adjusted for increased consumption.

US gasoline stocks fell -1.5 million bbls; second consecutive decline, as refineries work down excess inventories.

US gasoline consumption averaged 9.1 million bopd over last four weeks, which is +272,000 bopd above prior year level. Saudi got us hooked on gasoline again.

US refinery throughput edged up +78,000 bopd as refiners reach the mid-point of maintenance season.

US crude oil imports are running high during maintenance season with surplus going into refinery/merchant storage.

Rise in crude oil stock was driving by continued strong flow of import s (7.5 milion bopd) despite refinery maintenance.

US commercial crude oil stocks jumped by another 8.0 million bopd last week, taking four-week gain to +22.6 million bbls. The refiners like that inexpensive foreign oil.

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Notes to the Granddaughters

After finishing The Catcher In The Rye, I googled "Diary of a Wimpy Kid" "Catcher in the Rye". Here are some of the hits:
 

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