EIA Weekly Petroleum Report -- September 8, 2022

Link here.

Yesterday, from the API:

Today, the API weekly petroleum data:

• a build of 3.645 million bbls;
• from the SPR, released: 7.5 million bbls

Today, from the EIA:

• US crude oil increaseed by a whopping 8.8 million bbs (same ballpark as that amount releaseed from SPR)
• US crude oil in storage now totals 427.2 million bbls, 3% below the five-year average
• in other words, just staying even with record amounts of oil released from the SPR
• DOE knew last spring just how bad things were going to get when it made decision
• US imports ... yawn ..
• US refiners are operating at 90.9% of their operable capacity; a recent low; trending lower;
• distillate fuel inventories increased by 0.1 million bbls; still 23% below their five-year average;
• jet fuel supplied down 0.4%
• gasoline demand to be reported later this afternoon
• WTI: up 1.71%; up $1.40 after the report; trading at $83.34
• natural gas: still just below $8.00

Gasoline: below $3.00 / gallon in north Texas; at $3.04 locally earlier this morning

• now looks to be $2.99 / gallon

Tickers:

• DVN: up
• MNRL: back to flat after dropping a bit
• CVX: up slightly; practically flat
• SRE: after yeesterday's 52-week high; flat
• OKE: up 1.4% today

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