This week's full report.
Consumption is heading up, just ahead of this week, last year.
Pump prices seem to be edging upward. They now appear to be heading toward a national average in the $3.60ish range. Time will tell. However, diesel seems to be trending lower.
The overall...
Crude inventories slid -1.5M barrels; distillates up 1.0M barrels; gasoline down again at -5.6M 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 $33.18, with gasoline jumping to $20.05 from last week's $17.02. Distillates at $13.13, compared to last week's $12.41.
This likely translates to additional upward pressure on gasoline, with diesel remaining relatively flat.
That's all for this week.
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