Changes in oil inventories were inline with pretrade estimates:
Crude fell 1.8m bbls (0.52%) last week and is 15.97% above year-ago levels.
Gasoline rose 0.8m bbls (0.4%) last week and is 3.2% above year-ago levels.
Distillates rose 1.2m bbls (0.8%) last week and is 26.9% above year-ago levels.
Total oil demand rose 0.4% last week and is down 6.3% from last year.
Gasoline demand rose 1.0% last week and is down 1.0% from last year.
Distillate demand rose 0.5% last week and is down 9.5% from last year.
Jet-fuel demand fell 4.7% last week and is down 12.6% from last year.
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The contents of any third-party letters/reports above do not necessarily reflect the opinions or viewpoint of G. Scott Hinton. They are provided for informational/educational purposes only.All sites refered to or displayed on this blog are available to anyone free of charge. The content of any message or post by G. Scott Hinton anywhere on this site is not to be construed as constituting market or investment advice. Such is intended for educational purposes only. Individuals should always consult with their own advisors for specific investment advice. This information is not to be construed as an offer to sell or a solicitation or an offer to buy commodities herein named. The risk of trading futures and options can be substantial.
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