WTI drops $1.12; drops 2.6%; now trading well below $42.
- US crude oil in storage decreased by a whopping 9.4 million bbls;
- US crude oil in storage now stands at 498.4 million bbls, still 14% above the already-fat five-year average;
- imports averaged 4.9 million bopd; which was a decrease of 1.0 million bopd from the previous week;
- imports average about 5.5 million bopd, or 20% less than the same four-week period last year
- refineries operated at 76.7% of their operable capacity; this was a significant drop;
- distillate inventories decreased by 1.7 million bbls but are still a whopping 23% above the five-year average for this time of the year
- propane is back in the news as near the harvesting season: propane inventories increased by 4.4 million bbls and are about 11% above the five-year average
- jet fuel delivered was down 47.1% compared with the same four-week period last year
- United Airlines just announced huge layoffs at the time this summary was being produced;
Jet fuel supplied:
|
Jet Fuel Delivered, Change, Four-Week/Four-Week |
|
|
|
Week |
Date of Report |
Change |
|
Week 0 |
3/7/2020 |
-12.80% |
|
Week 1 |
3/14/2020 |
-12.60% |
|
Week 2 |
3/21/2020 |
-8.90% |
|
Week 3 |
3/28/2020 |
-16.40% |
|
Week 4 |
4/4/2020 |
-0.22% |
|
Week 18 |
July 15, 2020 |
-51.90% |
|
Week 19 |
July 22, 2020 |
-47.70% |
|
Week 20 |
July 29, 2020 |
-42.10% |
|
Week 21 |
August 5, 2020 |
-40.90% |
|
Week 22 |
August 12, 2020 |
-45.80% |
|
Week 23 |
August 19, 2020 |
-47.60% |
|
Week 24 |
August 26, 2020 |
-45.70% |
|
Week 25 |
September 2, 2020 |
-47.10% |
US crude oil inventories:
|
Date of Report= |
Change |
Million Bbls Storage |
Over/under 5-year average |
|
November 21, 2018 |
4.9 |
446.9 |
|
|
November 28, 2018 |
3.6 |
450.5 |
|
|
December 6, 2018 |
-7.3 |
443.2 |
|
|
December 12, 2018 |
-1.2 |
442.0 |
|
|
December 19, 2018 |
-0.5 |
441.5 |
|
|
December 28, 2018 |
0.0 |
441.4 |
|
|
July 15, 2020 |
-7.5 |
531.7 |
17% |
|
July 22, 2020 |
4.9 |
536.6 |
19% |
|
July 29, 2020 |
-10.6 |
526.0 |
17% |
|
August 5, 2020 |
-7.4 |
518.6 |
16% |
|
August 12, 2020 |
-4.5 |
514.1 |
|
|
August 19, 2020 |
-1.6 |
512.5 |
|
|
August 26, 2020 |
-4.7 |
507.8 |
15% |
|
September 2, 2020 |
-9.4 |
498.4 |
14% |
Distillate fuel inventories:
|
Distillate Fuel Inventories |
|
|
|
|
Week |
Date of Report |
Change in Millions |
Relative to 5-Yr Avg |
|
Week 1 |
August 26, 2020 |
1.40 |
24% |
|
Week 2 |
September 2, 2020 |
-1.70 |
23.00% |
Crude oil imports:
|
Crude Oil Imports |
|
|
|
|
|
Week (week-over-week) |
Date of Report |
Raw Data, millions of bbls |
Change (millions of bbls) |
Four-week period comparison |
|
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 |
-19.700% |
|
Week 8 |
May 6, 2020 |
5.7 |
0.410 |
|
|
Week 9 |
May 13, 2020 |
5.4 |
-0.321 |
-26.100% |
|
Week 10 |
May 20, 2020 |
5.2 |
-0.194 |
|
|
Week 11 |
May 28, 2020 |
7.2 |
2.000 |
-16.400% |
|
Week 12 |
June 3, 2020 |
6.2 |
-1.000 |
-18.300% |
|
Week 13 |
June 10, 2020 |
6.4 |
0.000 |
-13.300% |
|
Week 14 |
June 17, 2020 |
6.6 |
-0.222 |
-10.000% |
|
Week 15 |
June 24, 2020 |
6.5 |
-0.102 |
-11.600% |
|
Week 16 |
July 1, 2020 |
6.5 |
-0.600 |
-11.300% |
|
Week 17 |
July 8, 2020 |
7.4 |
1.400 |
-8.500% |
|
Week 18 |
July 15, 2020 |
7.5 |
-1.800 |
-10.200% |
|
Week 19 |
July 22, 2020 |
5.9 |
0.373 |
-13.500% |
|
Week 20 |
July 29, 2020 |
5.1 |
-0.800 |
-13.600% |
|
Week 21 |
August 5, 2020 |
6.0 |
0.900 |
-18.100% |
|
Week 22 |
August 12, 2020 |
5.6 |
-0.389 |
-20.400% |
|
Week 23 |
August 19, 2020 |
5.7 |
0.109 |
-21.700% |
|
Week 24 |
August 26, 2020 |
5.9 |
0.185 |
-16.900% |
|
Week 25 |
September 2, 2020 |
4.9 |
-1.000 |
-20.200% |
