VBIN's oil stock thread.

[EricL]

Quote:U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 8.0 million barrels from the previous week. At 484.4 million barrels, U.S. crude oil inventories are about 7% above the five year average for this time of year. Total motor gasoline inventories increased by 1.5 million barrels last week and are about 4% above the five year average for this time of year. Finished gasoline and blending components inventories both increased last week. Distillate fuel inventories decreased by 1.6 million barrels last week and are about 18% above the five year average for this time of year. Propane/propylene inventories decreased by 2.6 million barrels last week and are about 8% above the five year average for this time of year. Total commercial petroleum inventories decreased by 14.7 million barrels last week.

Another 14.7 million barrels gone from storage. A few more weeks like this and the market will certainly take notice.