It has been awhile, although I have kept abreast of a few things.
First up... is inventory status of select energy components in the USA.
The SPR status is slowly declining, with the unknown being how much spoilage is there. At current rates of withdrawal, about 50 weeks remain... IF there is no spoilage. The Cushing inventory, which is included in the Crude numbers... is low, but not critical, given historical number.
Of course, the BIG story is pump prices of gasoline.
I would be a bit more concerned with the Diesel prices, but hey...
Gasoline consumption is -1.7% from last year, with it being -0.4% from last week. Whatever the price, the consumer seems to be adjusting, although still complaining.
Looking forward, and based on current market pricing...
That finishes up this episode of an old guy foolishly expressing his opinion.
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