This week's full report.
Consumption continues to rise on a weekly basis, but not yet at last year's seasonal levels.
And as can be expected... pump prices are also rising...
Refinery operational levels continue below year ago averages.
Crude inventories rose +1.4M barrels; distillates down -4.1M barrels; gasoline down -4.5M barrels.
For those interested, the exports of Crude, Petroleum Products, Including Gasoline has far outweighed the imports, by this much, since March, 2022.
The current crack spread has shot up since last week to $29.43, with gasoline jumping to $17.02 from last week's $10.89. Distillates at $12.41, compared to last week's $12.01.
This likely translates to additional upward pressure on gasoline, with diesel remaining relatively flat.
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