Weekly EIA Petroleum Report; Bakken Proxy Breaks $80 -- July 12, 2023

Locator: 45103OIL. 

95 best Amazon Prime deals right now: link here. Apple has no less than a dozen on the list, and at the top!

I just sent this cryptic message to our daughter with 3-year-old twins (they can thank Amazon later):

Why a week from now when Amazon has same day delivery? The item I am ordering -- the company cannot keep up with demand! And this is top of the line -- LOL.

Locator: 45102OIL. 

Weekly EIA petroleum report, link here:

• US crude oil in storage increased by a whopping 5.9 million gallons; at 458.1 million gallons in storage, US storage is 1% above the five-year average (tell me again, we're running out of oil)
• imports: yawn
• refiners: huge -- operating at max capacity -- operating at 93.7% of their capacity;
• even distillates increased! Increased by almost 5 million bbls; but still 14% below their five-year average; irrelevant.
• but this is the biggie: jet fuel supplied up 10.5% compared with same four-year period last year.

WTI after the report was released: up 1.1%; up 82 cents; now solidly above $75, trading at $75.65.
Bakken proxy: breaks $80; up 1%; up 79 cents; trading at $80.70. 

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Huge

And, yes, the family is already planning ....

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Huge

WSJ op-ed.