· Crude draw larger than expected – Crude oil inventories decreased 7.3 mmbbls last week, compared with market expectations for no change (per Bloomberg) in inventories. Crude oil inventories are now sitting at 357.6 mmbbls, which is 6.2% above last year and 9.9% above the five-year average.
· Gasoline inventories fall more than expected – Gasoline inventories fell 2.6 mmbbls last week, compared with market expectations for a 0.8 mmbbls (per Bloomberg) withdrawal. Inventories of gasoline are now sitting at 207.7 mmbbls, which is 0.7% below last year and 3.3% above the five-year average.
· Distillates draw less than expected – Inventories of distillates decreased 1.1 mmbbls last week, compared with market expectations for a 2.0 mmbbls withdrawal (per Bloomberg). Distillate inventories are now sitting at 158.8 mmbbls, which is 5.1% below last year but 16.2% above the five-year average.
· Refinery utilization increases – Refinery utilization was up 1.6% last week to 84.0% which is 4.6% above last year and 1.3% below the five-year average.
Posts
No comments:
Post a Comment