It's going to be tough to sort out the top energy stories for the year.
But with all the folks over at Twitter heralding this story, one begins to think it's going to be a big, big story. I think this is the third or fourth link regarding this story that I've posted on the blog in the last two days.
Again, from another source, this time from a contributor over at SeekingAlpha:
- US crude imports are about to set a new monthly low this month. We are seeing October US crude imports coming in at ~6 mb/d
- next week will show elevated imports of ~7 mb/d followed by sub ~6 mb/d for the following three weeks.
- the reasoning behind such low imports is largely thanks to elevated demand pull from Asia and the rest of the world.
- now for a reference point, US crude imports were 7.544 mb/d in October last year.
- so the combination of low crude imports and elevated crude exports this month will see US crude storage counter-seasonally decline.
