This week's full report.
Mixed messages on consumption.
Pump prices are rising, probably towards that $3.50ish level in the next couple of months.
Refinery operation slipped this report.
Crude inventories rose +12.0M barrels; distillates down -1.9M barrels; gasoline down +3.7M barrels.
For those interested, the exports of Crude, Petroleum Products, Including Gasoline has far outweighed the imports, by this much, since March, 2022.
I added the distillate/diesel category to reflect the volumes. Distillates per barrel are where the most profit for refineries lie. The current crack spread is 27.51 per barrel, with $14.97 coming from distillate and $12.55 from gasoline.
That's all for now.
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