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Title : US Crude Oil Inventories INCREASED This Past Week -- June 6, 2018
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US Crude Oil Inventories INCREASED This Past Week -- June 6, 2018

Weekly petroleum report, link here:

• US crude oil inventories: increased by 2.1 million bbls
• US crude oil inventories: 436.6 million bbls; "in the lower half of the average range for this time of year" -- per the EIA; my own "baseline" -- 350 million bbls -- so for me, an inventory of 437 million bbls is still a huge over-supply
• total motor gasoline inventories increased by 4.6 million bbls last week (and yet gasoline prices are said to be going up)
• distillate fuel inventories rose by 2.2 million bbls
• refineries operating at 95.4% capacity -- a huge jump from the recent 91% to 93%; despite that, gasoline production DECREASED last week, slightly under the "benchmark" of 10 million bbl/day
• distillate fuel production INCREASED slightly last week, slightly over the "benchmark" of 5 million bbl/day

Following the report, WTI dropped ten cents to $65.42/bbl. 

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