The weekly EIIA petroleum report:
- US crude oil inventories decreased by 4.5 million bbls; this is on top of the seven million bbls of oil released from the SPR;
- US crude oil inventories now stand at 422.1 million bbls, 6% below the 5-year average;
- US crude oil imported is so unchanged not even worth the time posting it
- refineries reported operating at 92.2% of their operable capacity, coming down significantly after recent highs;
- distillate fuel inventories decreased by 0.8 million bbls; remain 23% below the five-year average;
- propane inventories increased by 2.6 million bbls, but remain 12% below the five-year average
- jet fuel supplied was up 9.9% compared with same four-week period last year
- gasoline demand will be reported later today
- natural gas fill rate will be reported tomorrow.
- WTI: which had been up around a dollar per bbl before the report, is now flat, up maybe 0.2%
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