Jet Fuel Delivered Drops A Whopping 67% -- May 6, 2020

You've know we've had enough of the CDC and Wuhan flu when:

• the task force is shut down;
• Apple re-opens;
• California is forced to borrow money to cover unemployment benefits, but has enough money expand benefits for illegal aliens;
• when killer wasps become the new meme;

UK scientist who pushed "lock down," busted for having married girlfriend over to his house. Link everywhere. Best part of the story, from the married woman:

The woman lives with her husband and children in another home, the newspaper reported. Friends of the woman told the paper that she considered her household and Ferguson's residence to be one.

Comment: I lived in the England for quite some time during my time with the USAF. It was my impression the Brits had a different attitude regarding "affairs." Not necessarily all bad. 

Frost in May?

Hey, wait, don't go away! The weekly EIA petroleum report will be released within the next thirty minutes! Link here.

• US crude oil in storage (at least that which we know about): 532.2 million bbls (12% above the already fat five-year average for this time of year);
• US crude oil in storage increased by only 4.6 million bbls week/week;
• US refineries are operating at 70.5%; capacity:
• US crude oil imports: 5.7 million bopd; up by 410,000 bopd from the previous week; four-week average: 5.4 million bbls, 20% less than same four-week period last year;
• "Holy turbine, Batman." Jet fuel delivered fell by 67% year-over-year (four week 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 68	March 18, 2020	2.0	453.7
Week 69	March 25, 2020	1.6	455.4
Week 70	April 1, 2020	13.8	469.2
Week 71	April 8, 2020	15.2	484.4
Week 72	April 15, 2020	19.2	503.6
Week 72	April 22, 2020	15.0	518.6
Week 73	April 29, 2020	9.0	527.6
Week 74	May 6, 2020	4.6	532.2

Imports:

Crude Oil Imports
Week (week-over-week)	Week Ending	Raw Data, millions of bbls	Change (millions of bbls)
Week 0	March 11, 2029	6.4	0.174
Week 1	March 18, 2020	6.5	0.127
Week 2	March 25, 2020	6.1	-0.422
Week 3	April 1, 2020	6.0	-0.070
Week 4	April 8, 2020	5.9	-0.173
Week 5	April 15, 2020	5.7	-0.194
Week 6	April 22, 2020	5.6	-0.700
Week 7	April 29, 2020	5.3	0.365
Week 8	May 6, 2020	5.7	0.410

 
Jet fuel:

Jet Fuel Delivered, Change, Four-Week/Four-Week
Week	Week Ending	Change
Week 0	March 11, 2020	-12.80%
Week 1	March 18, 2020	-12.60%
Week 2	March 25, 2020	-8.90%
Week 3	April 1, 2020	-16.40%
Week 4	April 8, 2020	-0.22%
Week 5	April 15, 2020	-39.70%
Week 6	April 22, 2020	-53.60%
Week 7	April 29, 2020	-61.60%
Week 8	May 6, 2020	-66.60%