Locator: 47094WTI.
Weekly petroleum report, link here:
- US crude oil storage decreased 1.4 million bbls; remains 3% below the five-year average;
- refiners: 88.5%
- jet fuel supplied: up 3.5% from one year ago
SPR:
- a few days ago, Biden administration said WTI priced too high to refill the SPR at this time
- then, DOE grilled by Congress on low storage of crude oil
- yesterday, Biden administration reverses itself and says it will solicit 3.3 million bbls to add back to the SPR
- 3.3 / 460 = 0.7% -- inconsequential; it's simply about money
- link here and here;
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.