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Why Oil Is Going Higher – Valuewalk Premium

by posted 8months ago 42 views
The numbers below do not take into account Exxon restarting Baytown very soon that will take another 600,000bbl/day off the market. US Crude Inv falls 9.5mil BBL &  Gasoline Inv fall 1.5mil BBL With this report, US Crude Inv sits ~13mil BBL above its 5yr mov avg. In the next few weeks, we could easily see US Crude Inv fall well below its 5yr mov avg. These declines reflect summer travel demand which rises seasonally. Refining inputs continue to remain ~800,000 BBL/Day below peak trend line usually seen at this time.

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