Going into Labor Day 2018, the US has finally dropped below 23 days of crude oil supply. We last saw that back in 2014 / 2015. If this is not bullish for oil, I don't know what is. If it trends toward 20 days or less, "Katie, bar the door."
Disclaimer: there may be exceptions. I may have missed something, but "generally," it's an accurate statement.
Recent data first, then scroll down to see 2014/2015 data.
Recent data:
2014/2015 data:
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