Inventories edged down for gasoline and distillates, with crude and jet fuel rising, as the total of all products decreased -0.3KB. The SPR decreased about 400KB. Originally, 172M barrels were slated to be pulled, AND within 5 months(?). 130.6 Million barrels have been pulled and the drawdown has slowed significantly, with less than 60K barrels a day for last report, which matches last week.
Gasoline consumption declined on the y/y and remained in place for the 4 week running average.
I have lamented the diesel prices of the past few weeks, but that pump price may actually be nearing its apex.
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