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Wednesday, April 5, 2023

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.

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