IMPLIED GASOLINE DEMAND SURGES, PUSHING INVENTORIES DOWN
gaspriceguy.substack.com
The Energy Information Administration (EIA) released its weekly report today on the status of petroleum inventories in the United States. Here are some highlights: CRUDE OIL INVENTORIES: Crude oil inventories increased by 3.2 million barrels (MMbbl) to a total of 451.4 MMbbl. At 451.4 MMbbl, inventories are 18.5 MMbbl below last year (3.9%) and are 2% below the five-year average for this time of year. Inventories in Cushing, OK, the NYMEX delivery point, fell 0.3 million barrels to a total of 33.2 million barrels. The Strategic Petroleum Reserve (SPR) rose 600,000 barrels from the prior week and stands at 363.6 million barrels, 2.0% below the year-ago level.
IMPLIED GASOLINE DEMAND SURGES, PUSHING INVENTORIES DOWN
IMPLIED GASOLINE DEMAND SURGES, PUSHING…
IMPLIED GASOLINE DEMAND SURGES, PUSHING INVENTORIES DOWN
The Energy Information Administration (EIA) released its weekly report today on the status of petroleum inventories in the United States. Here are some highlights: CRUDE OIL INVENTORIES: Crude oil inventories increased by 3.2 million barrels (MMbbl) to a total of 451.4 MMbbl. At 451.4 MMbbl, inventories are 18.5 MMbbl below last year (3.9%) and are 2% below the five-year average for this time of year. Inventories in Cushing, OK, the NYMEX delivery point, fell 0.3 million barrels to a total of 33.2 million barrels. The Strategic Petroleum Reserve (SPR) rose 600,000 barrels from the prior week and stands at 363.6 million barrels, 2.0% below the year-ago level.