Crude, Distillate, and Gasoline Inventories - Jan. 5 2023

Habits, both good and bad, are hard to break, and so is doing this report for nearly the past 20 years. There is a reason I started it, but not sure there is a reason to continue. 

This week's EIA report.

Crude stocks went up +1.7M barrels, from last week; Distillates down -1.4M Barrels; and Gasoline slid -300K barrels. The SPR slid another -2.7M barrels.

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After all the ups and downs of inventories, the day's supply increased across the board. Which can only mean consumption tapped the brakes.

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Oddly, refiner operating ratio slipped from 92.7% to 88.7%. There had been rumors of disruptions, due to the winter storms, but those things are closely guarded secrets. 

In any case, it is clear consumption fell, after 2 weeks of gains. It is -7.2% below this time last year. Again weather may have been a big factor. 

National pump prices, according to AAA, have risen 12.6¢ from last week, and 18.9¢ the past 13 days. I would think some leveling off is in order, but what do I know?

Distillates continue to fall in the New England area...

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We're a long way from calling winter over, so that area is dangerously low, imho. It is currently lower than anytime the past 30 years, for end of December. Just saying. 

I have tagged politics, so here goes. I would comment on the Speaker funfest, but it would seem it is early in the ballgame. Don't compare this 9th vote to baseball. This is more like Cricket, which I don't understand and also goes for days and days. With nine days being the longest. 

C'mon guys and gals, you can break the record!!