US days of supply of crude oil, link here: has increased from 28.3 to 28.9, week over week:
This is a complicated algorithm, based on at least four factors:
- amount of crude oil in storage;
- predicting the rate of increase/decrease in demand for refined products;
- predicting future operating capacity in US refineries;
- weather, as if affects:
- macro-economy: includes global demand going forward
- micro-economy, e.g., hurricanes in the Gulf
If the Friday night cheerleading video doesn't go viral, I will be very, very disappointed:
