This Week in Petroleum Summary November 6th, 2024 per EIA.GOV

This week's full report. 

Gasoline pump prices fell -0.28¢ for the week, and continues well below year ago levels, by -31.1¢, or -9.1%. Days supply rosel to 23.8. For perspective... last year was 24.1 days.

Inventories were up across the board , with crude up +1.1M barrels; Distillates up +2.9M barrels; Gasoline stocks up +412K barrels. Total Petroleum + products +SPR rose +263K barrels, with the SPR rising +1.4M barrels.

The total products is still +19.5M barrels 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 rose from last week's $16.62, to $17.00. Gasoline eased ever so slightly to $8.44, from last week's $8.45. Distillates rose to $8.57, compared to last week's $8.17.

The data sets continue to diverge with price movement in the coming days. -0.9¢ ~ +3.5¢.

Still, just as the past few weeks... nothing dramatic in the way of prices surging, or at least for now and should continue until the Christmas holiday, imo.

 

2024 Presidential Election Update, Final Edition?

The Electoral Vote count stands at 246 for Trump; and 226 for Harris. There are 66 EVs in MoE territory, with the edge going to Trump in 60, leaving a potential for Trump having 306 EVs.

The under polling should be interesting to see, but that will come in after election analysis.

The previous 2 elections indicated significant under polling for Trump. Not sure how much is applicable to this election, as Trump has been polling much stronger. It there is a tendency for significant under polling towards Trump, then the possibility of him achieving the majority of the vote. 

Current polling suggests neither would achieve majority. 

It is razor thin and should be entertaining... the next couple of days, or possibly more.

 

2024 Presidential Election Update, November 2nd Edition

The Electoral Vote count stands at 235 for Trump; and 226 for Harris. There are 77 EVs in MoE territory, with the edge going to Trump in 71, leaving a potential for Trump having 306 EVs.

However, the shift since last week, has been closing the gap. Both Pennsylvania and Wisconsin have fallen into MoE territory.

It will be a very long election night, stretching well into Wednesday, imo.