EIA Weekly Petroleum Report; Unremarkable -- May 30, 2019

Link here. Pending; to be released at 10:00 a.m. CT.

• US crude oil inventory change, weekly: (yesterday API reported a draw of almost 6 million bbls) -- the EIA reports that the weekly change was almost flat -- the change was a meaningless draw of 0.3 million bbls -- again, the false precision .... 0.3 million / 476.5 million = 0.000629 or 0.063%
• US crude oil inventory, weekly: 476.5 million bbls; about 5% above the five-year average
• Refinery operating capacity: finally, above 90% but not by much -- at 91.2%;
• gasoline: inventories are about 1% above the 5-year average, having increased by 2.2 million bbls
• distillate fuel inventories decreased by 1.6 million bbls and are about 5% below the 5-year average

Re-balancing:

Week	Week Ending	Change	Million Bbls Storage
Week 0	November 21, 2018	4.9	446.9
Week 1	November 28, 2018	3.6	450.5
Week 2	December 6, 2018	-7.3	443.2
Week 3	December 12, 2018	-1.2	442.0
Week 4	December 19, 2018	-0.5	441.5
Week 5	December 28, 2018	0.0	441.4
Week 6	January 4, 2019	0.0	441.4
Week 7	January 9, 2019	-1.7	439.7
Week 8	January 16, 2019	-2.7	437.1
Week 9	January 24, 2019	8.0	445.0
Week 10	January 31, 2019	0.9	445.9
Week 11	February 6, 2019	1.3	447.2
Week 12	February 13, 2019	3.6	450.8
Week 13	February 21, 2019	3.7	454.5
Week 14	February 27, 2019	-8.6	445.9
Week 15	March 6, 2019	7.1	452.9
Week 16	March 13, 2019	-3.9	449.1
Week 17	March 20, 2019	-9.6	439.5
Week 18	March 27, 2019	2.8	442.3
Week 19	April 3, 2019	7.2	449.5
Week 20	April 10, 2019	7.0	456.5
Week 21	April 17, 2019	-1.4	455.2
Week 22	April 24, 2019	5.5	460.1
Week 23	May 1, 2019	9.9	470.6
Week 24	May 8, 2019	-4.0	466.6
Week 25	May 15, 2019	5.4	472.0
Week 26	May 22, 2019	4.7	476.8
Week 27	May 30, 2019	-0.3	476.5

Natural gas fill rate: from twitter, natural gas storage change, link here:

• storage fill of 114 bcf from previous week
• vs estimate of 98
• previous 100

A sharper rise than last year but still a smooth climb.