Weeky EIA Petroleum Report; Gasoline Demand -- April 5, 2023

Locator: 44311B.

Weekly EIA petroleum report, link here. 

• US crude oil in storage decreased by 3.7 million bbls; at 470.0 million bbls, crude oil in storage is about 4% above the five year average, which means the administration can still release a fair amount of crude oil from the SPR; there’s more than enough crude oil in non-SPR commercial reserves.
• imports increased by 1.8 million bbls; that's a significant jump; 
• refiners were only operating at 89.6% of their operable capacity;
• gasoline production decreased last week
• distillate fuel decreased by 3.6 million bbls and are about 12% below their five-year average 
• jet fuel supplied was up 6.1%

Gasoline demand, link here:

WTI, after the report:

• down 0.05%; in other words, flat
• trading at $80.66

Gasoline demand:

• upwards of 50% of office workers have not yet returned to the office for a full five-day workweek;

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Freight Train

By the song-writer herself.