EIA's Weekly Petroleum Report -- August 21, 2019

While we're waiting, existing home sales (US), mortgage rates are really, really low and might go lower:

• prior: 5.270 million
• prior revised: 5.290 million
• consensus: 5.385 million
• actual: 5.420 million
• m/m change: up 2.5%
• y/y change: up 0.6%

I still don't see the data that the average American on the street sees "a recession just around the corner."

 

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The Weekly Petroleum Report

WTI: up about 65 cents; trading at $56.74, about at the sweet sport for all involved.

EIA's weekly petroleum report: link here.

• weekly US crude oil inventories: fell by 2.7 million bbls
• weekly US crude oil inventory: 437.8 million bbls, about 2% above the five-year average, and that five-year average keeps building
• refiners operating capacity: 95.9% of their operable capacity; nearing high end of what is generally reporte
• imports continue to fall; down by almost a half-million bopd from the previous week
• imports are almost 11% less than the same four-week period last year (and those numbers keep falling)
• total product supplied: now solidly above 20 million bpd, up 3% from same period last year
• jet fuel product supplied was up 4% compared with same four-week period last year
• gasoline up 1.5% from same period last year
• we'll see the gasoline demand numbers and graphic later today

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
Week 28	June 5, 2019	6.8	483.3
Week 29	June 12, 2019	2.2	485.5
Week 30	June 19, 2019	-3.1	482.4
Week 31	June 26, 2019	-12.8	469.6
Week 32	July 3, 2019	-1.1	468.5
Week 33	July 10, 2019	-9.5	459.0
Week 34	July 17, 2019	-3.1	455.9
Week 35	July 24, 2019	-10.8	445.1
Week 36	July 31, 2019	-8.5	436.5
Week 37	August 7, 2019	2.4	438.9
Week 38	August 14, 2019	1.6	440.5
Week 29	August 21, 2019	-2.7	437.8