This week's full report.
Gasoline increased +0.1¢ for the week, but remains below year ago levels, by -8.3¢, or -2.3%. Days supply fell to 24.5, from 25.5. For perspective... last year was 24.1.
Inventories were down across the board, with crude down -3.7M barrels; Distillates down -2.8M barrels; Gasoline down -5.6M barrels. Total Petroleum + products +SPR slid -3.9M barrels, with the SPR rising +690K barrels.
Despite the across the board draw, the total products is still ahead of year ago levels.
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 jumped up from last week's $22.35, to $25.05. Gasoline at $14.91 from last week's $13.56. Distillates to $10.13, compared to last week's $8.79.
While the spread moved upward, inventories fell, and consumption seems to have eased upward. A sure sign of higher pump prices, except it also indicates pump prices in a narrow band.
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