Locator: 44375B.
EIA weekly petroleum report: link here:
- US crude oil in commercial storage increased by 0.6 million bbls
- recall that there was an SPR release last week of over one million bbls
- US crude oil in storage is 3% above the five-year average, at 470.5 million bbls
- at 6.2 million bops, imports were down almost one million bopd
- refiners are operating at 89.3% of their capacity
- distillate fuel inventories deceased by 0.6 million bbls last week
- distillate fuel in storage is 11% below the five-year average
- jet fuel supplied was up 1.5%
Following the report, WTI jumped another $1.06 today after a jump yesterday and is now trading at $82.59.
Wow, talk about a great report, and a great response for WTI.
Gasoline demand, link here:
We're still in a "Goldilocks" economy.
China needs coal and lots of it as it converts from a crude-oil-sourced-ICE economy, to a coal-sourced EV economy.
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