The Energy And Market Page, T+250 -- September 27, 2017

WTI: slightly above $52 at open. Closed at $52.03. Whoo-hoo.

Market: in early trading, the Dow is barely in the green, but by 11:00 a.m. already had 120 new highs on the NYSE, including: Navistar International; Union Pacific;

• new lows: 11

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WTI: On Sale!

John Kemp: the differential between WTI and Brent will drain the US WTI crude oil inventories.

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Weekly Petroleum Report

The weekly petroleum report, highlights:

• US commercial crude oil inventories: decreased by 1.8 million bbs; now at 471.0 million bbls
• upper half of the average range for this time of year
• total motor gasoline inventories increased 1.1 million bbls; in the upper half of the average range
• distillate fuel product supplies was up by almost 14% -- again, incredible numbers for many consecutive weeks
• refineries operated at 89% of capacity; improved but still way below where they should be

Re-balancing: remains unchanged. At current rate of change in US crude oil inventories, it will take 46 weeks to get back to historical levers.

The EIA will post the graphic tomorrow with the number of days of gasoline supply at current rate of usage.

Week	Date	Drawdown	Storage	Weeks to RB
Week 0	Apr 26, 2017		529.0	180
Week 1	May 3, 2017	0.9	528.0	198
Week 2	May 10, 2017	6	522.0	50
Week 3	May 17, 2017	1.8	520.2	59
Week 4	May 24, 2017	4.4	515.8	51
Week 5	May 31, 2017	6.4	509.9	41
Week 6	June 7, 2017	-3.3	513.2	60
Week 7	June 14, 2017	1.7	511.5	57
Week 8	June 21, 2017	2.5	509.0	62
Week 9	June 28, 2017	-0.2	509.2	71
Week 10	July 6, 2017	6.3	502.9	58
Week 11	July 12, 2017	7.6	495.3	47
Week 12	July 19, 2017	4.7	490.6	43
Week 13	July 26, 2017	7.2	483.4	38
Week 14	August 2, 2017	1.5	481.9	50
Week 15	August 9, 2017	6.5	475.4	35
Week 16	August 16, 2017	8.9	466.5	30
Week 17	August 23, 2017	3.3	463.2	29
Week 18	August 30, 2017	5.4	457.8	27
Week 19	September 7, 2017	-4.6	462.4	32
Week 20	September 13, 2017	-5.9	468.2	39
Week 21	September 20, 2017	-4.6	472.8	46
Week 22	September 27, 2017	1.8	471.0	46

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LEGO

The Lego NASA Apollo Saturn V remains "temporarily out of stock." This is the longest period of time I have ever seen a Lego product "temporarily out of stock."

We've talked about this before.