Weekly EIA petroleum report:
- US crude oil inventories increased by a whopping 4.5 million bbls.
- US crude oil inventories stand at 426.6 million bbls.
- US crude oil imports averaged 7.3 million bbls per day, increased by 1.2 million bbls per day; over the past four weeks, crude oil imports average 6.7 million bbls, 1.7% more than same four-week period last year;
- US refiners operating at only 91.0% of their operable capacity; continues to trend down
- by the way, I believe the SPR release has averaged about 650,000 bopd (mostly sour) despite the offer to release one million bopd over the past two months -- numbers maybe inexact, but trend is accurate
- US distillate inventories decreased by 2.4 million bbls; now 25% below the five-year average;
- US jet fuel delivered was down 0.7%, so we're almost back to what it was a year ago.
Three interesting data points:
- crude oil imports increasing;
- refiners operating at only 91% of their operable capacity (as gasoline prices fall to below $4)
- but most interesting, jet fuel supplied:
