This week's full report.
Consumption continues to edge up with gasoline inventories declining... result prices moving upward at the pump. Current projection is upper $3.60ish, in the next few weeks.
The overall...
Crude inventories slid -1.9M barrels; distillates up 600K barrels; gasoline down again at -3.4M 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 leveled off since last week to $32.24, with gasoline at $20.09 from last week's $20.05. Distillates at $12.15, compared to last week's $13.13.
This likely translates to additional upward pressure on gasoline, with diesel in a narrow band.
That's all for this week.
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