- US crude oil inventories increased by 3.3 million bbls.
- US crude oil inventories now stand at 434.1 million bbls, 6% below the very fat five-year average. In other words, more than enough crude oil in storage for the short term, and operators are adding more every week.
- refiners are operating at 86.3% of their operable capacity;
- US crude oil imports averaged 6.2 million bopd last week, down 83,000 bopd (yawn);
- over the past four weeks, crude oil imports averaged about 6.1 million bopd, 14.9% more than same four week period last year.
- distillate fuel inventories increased by 2.2 million bbls last week and are about 5% below the five year average; looking at a lot better than previously thought
- jet fuel supplied was up 44.5% compared with same four-week period last year (but how did that compare to 2019, the year before the year of the plague)
Gasoline demand. Link here. Remains flat. Demand destruction at $4.50 / gallon?
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