Link here.
- US crude oil inventories: another build, this time -- 3.8 million bbls
- US crude oil inventories: 409 million bbls (threshold - 400 million bbls) -- only 1% below the 5-eyar average, and that 5-year average includes the Saudi Arabia surge, 2015 - 2017, which greatly distorted things -- in other words -- still a lot of oil sloshing around
- refineries operating at 96.1% capacity: trending up
- gasoline production: 10.5 million bbls (threshold: 10 million bbls)
- distillate fuel production: 5.2 milion bbls (threshold: 5 million bbls)
- gasoline demand graphic will be posted later
More bad news for Saudi Arabia: Kuwait's oil production hits 18-month high. That's like almost a year and a half. Twopointfiveseven months measured in dog's lives.
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Trump Getting Ready To Drain The Swamp?
They say August is the most boring month for news. This August it could be different. He may go off the reservation. Again.
What to watch for: if the White House schedules a prime-time presidential address from the Oval Office.
Scott Adams will re-tweet this as an example of Trump's ability to persuade.
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