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Thursday, September 9, 2021

EIA's Weekly Petroleum Report -- The Week Of Hurricane Ida -- Barely A Regional Story When It Came To Energy -- September 9, 2021

EIA weekly petroleum report, link here:

  • US crude oil inventories dropped by an unremarkable 1.5 million bbls; yawn
  • US crude oil inventories now stand at 423.9 million bbls; 6% below the five-year average; yawn
  • Hurricane Ida: refiners operating at 82% of their operable capacity
  • US crude oil imports averaged 5.8 million bbls per day last week; decreased by 0.5 million bbls per day; yawn
  • over the past four weeks, the average of 6.2 million bbls per day imports is 12.2% more than the same four-week period last year -- noteworthy, especially for Russia, now that Resident Biden killed the Keystone XL
  • distillate fuel inventories decreased by 3.1 million bbls; are 12% below the five-year average
  • total petroleum inventories decreased by 10 million bbls last week
  • jet fuel supplies was up 65.3% compared to same four-week period last year

 Really, really good news. Look at the jump in the most recent week provided:

Jet Fuel Delivered, Change, Four-Week/Four-Week



Week

Date of Report

Change

Week 54

June 3, 2021

137.80%

Week 55

June 10, 2021

95.10%

Week 56

June 16, 2021

86.80%

Week 56

June 23, 2021

97.50%

Week 57

June 30, 2021

83.50%

Week 58

July 8, 2021

89.10%

Week 59

July 14, 2021

65.90%

Week 60

July 21, 2021

49.50%

Week 61

July 28, 2021

39.40%

Week 62

August 4, 2021

42.90%

Week 63

August 11, 2021

45.80%

Week 64

August 18, 2021

56.10%

Week 65

August 25, 2021

45.40%

Week 66

September 1, 2021

51.70%

Seek 66

September 9, 2021

65.30%

Really, really bad news, almost no weeks in which there has been a distillate build. I am being told that farmers are being "killed" by the high price of propane and diesel. Quick: from where do we get distillates? Be specific.

Distillate Fuel Inventories



Week

Date of Report

Change in Millions

Week 42

June 10, 2021

4.40

Week 43

June 16, 2021

-1.00

Week 44

June 23, 2021

1.80

Week 45 

June 30, 2021

0.90

Week 46

July 8, 2021

1.60

Week 47

July 14, 2021

3.70

Week 48

July 21, 2021

-1.30

Week 49

July 28, 2021

-3.10

Week 50

August 4, 2021

0.80

Week 51

August 11, 2021

1.80

Week 52

August 18, 2021

-2.70

Week 53

August 25, 2021

0.60

Week 54

September 1, 2021

-1.70

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