- US crude oil in storage, weekly change: increased by a whopping 7.9 million bbls
- WTI: $57.72 -- up 49 cents (at 10:37 a.m. EST)
- WTI: $56.22 -- down $1.01; down 1.76% -- 12:06 p.m. EST -- took a bit of time to re-act?
- US crude oil in storage: at 446.8 million bbls, about 3% above the five-year average, and the 5-year average has been trending higher for the past several years
- refineries operating at a very low 86% of their capacity
- most interesting: jet fuel product supplies was up 7.5% compared with same four-week period last year -- jet-setting global warming nuts flying more and more, apparently
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 43
|
September 18, 2019
|
1.1
|
417.1
|
Week 44
|
September 26, 2019
|
2.4
|
419.5
|
Week 45
|
October 2, 2019
|
3.1
|
422.6
|
Week 46
|
October 9, 2019
|
2.9
|
425.6
|
Week 47
|
October 17, 2019
|
9.3
|
434.9
|
Week 48
|
October 23, 2019
|
-1.7
|
433.2
|
Week 49
|
October 30, 2019
|
5.7
|
438.9
|
Week 50
|
November 6, 2019
|
7.9
|
446.8
|
Note: today's storage number of 446.8 million bbls is almost exactly what it was one year ago, November 21, 2018, when it was 446.9 million bbls. I don't see a lot of re-balancing.
Saudi Arabian imports: it would be interesting to see who in the US is buying Saudi oil. The only two "locations" of which I would know: a) California; and, b) possibly Saudi's refinery along the Gulf Coast.
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