Crude, Distillate, and Gasoline Inventories - Jan. 19 2023

This week's EIA report.

Crude stocks went up +8.4M barrels, from last week; Distillates down -1.9M Barrels; and Gasoline up 3.5M barrels. The SPR slid a meager -1K barrels. 

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Consumption of gasoline continues its slide, with year over year down -4.9% and now down -1.3% from last year's lows. 

Refinery operation slipped to a 4 week average of 85.3%, from last week's 4 wk. average of 86.7%

National pump prices, according to AAA, have risen +10.7¢ from last week. Current futures pricing, indicates a bit of upward trend developing. even though domestic consumption is slipping and inventories rising. This against a backdrop of lower refinery operation. 

We are still exporting some hefty quantities of gasoline. 

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I have distillates in the title, although not much change overall, except in the East Coast numbers, which is more Central Atlantic.

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So far... so good!