Review of EIA's This Week in Petroleum, October 26 2022

Another week, another report. This Week in Petroleum from the EIA.gov.

Click to Enlarge*The Net- U.S. only is adjusted for 5,070,000 barrels deducted from the SPR. 

From last week, the crude inventory increased 2.6M barrels; distillates rose 170K; gasoline inventory slipped 1.5M barrels. 

For the reporting period, WTI was $85.32, compared to year ago of $84.68. Up 64¢ or +0.08%.

Gasoline at the pump, however was $3.769 compared to last year's $3.383, a difference of +38.3¢ or +11.3% . Spot prices last year was $2.517, compared to this year's $2.916 a difference of 39.9¢ or +15.8%.

When it comes to highway diesel the current period's price is $5.316, compared to last year's $3.611. A whopping difference of $1.705 or +47.3%.

The problem with diesel fuel is inventory being low throughout much of the country, but is significantly lower in the Northeast and Central Atlantic...

Click to Enlarge- Distillate inventory

Not seeing any relief until demand falls a bit further, which only makes more available for export.