WTI: $112.90 just before report released.
Weekly EIA petroleum report, link here:
- US crude oil in storage decreased by a modest 3.4 million bbls from the previous week despite a release of one million bopd from the SPR.
- US crude oil in storage now stands at 420.8 million bbls; 14% below the five-year average.
- US imported 6.6 million bopd, up by 299,000 bopd from the previous week (yawn).
- Over the past four weeks, crude oil imports average 6.3 million bpd, 4.7% more than the same period last year.
- US refineries are operating at 91.8% of their operable capacity, pretty much unchanged.
- distillate inventories increased by 1.2 million bbls last week; inventories are not 22% below their five-year average.
- jet fuel supplied was up 28.6% compared to same four-week period last year.
- gasoline demand: link here.
After the report released, WTI: $112.70.
SPR inventories are at a 12,585 day low...
ReplyDeleteThat would be like 88,095 days in dog days -- which it is beginning to feel like.
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