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Wednesday, May 23, 2018

I'm Traveling Again, So Notes Will Be Brief -- May 23, 2018

Weekly petroleum report: link here --
  • huge jump in US crude oil inventories, and yet WTI price "held"
  • WTI: $71.83
  • US crude oil inventories: jumped 5.8 million bbls; now at 438.1 million bbls; this is/was a huge jump, but yet EIA says, "US crude oil inventories are in the lower half of the average range for this time of year." Language unchanged from previous reports.
  • refinery operating capacity at 91.8% hardly changed from last week; on low side; should be in 93 - 95% range, one would
  • but gasoline and distillate fuel production still more than adequate it seems
Gasoline demand, link here:
US crude oil days of supply, link here: ever so slightly, the days of US crude oil supply have inched up very, very sightly, maybe from 25.3 days to 26.4 days, but a year ago we were up to 30 days of supply.

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