Locator: 45996OIL.
Weekly EIA petroleum report, link here -- NOTE THIS IS the same report as a week earlier -- the EIA has not updated the most recent week -- see below.
- commercial inventories: increased by 0.8 million bbls; 421.9 million bbls; 5% below average;
- crude oil imports: 6.4 million bopd; increased by 412,000 bpd; 1.4% above the average;
- refiners: 85.4%
- distillate fuel: decreased by 0.8 million bbls; 12% below average;
- jet fuel supplied: up 8.0% compared to one year ago
So, what's the deal?
- API reported a whopping 11-million bbl increase yesterday which was beyond the pale
- today, the EIA says the change, week-over-week, was flat
This may explain it:
- EIA report: for week ending October 27, 2023, link here.
- API report: for week ending November 3, 2023, link here.
WTI today: down another 1%; trading at $76.73.
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Inflation Note
Finally, they’re getting it: link here.
At high-end grocery store this morning, while waiting for my RSV vaccination, I checked a few prices.
Eggs, dozen: $1.69.
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EVs
Sales distribution, US: link here.
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Gasoline Demand
Gasoline demand: link here.
Cleveland Fed President Loretta Mester to retire next June 30th 2024.
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