Hostilities in the Gulf do not seem to have subsided with the US destroying an Iranian drone today
“Davidson” submits:
US Crude Inv fell 3.1mil BBL, Gasoline Inv rose by 3.5mil BBL, Refining Inputs fell 0.2mil BBL. This is July 12 data. The impact of Exxon’s Baytown startup will not be seen till next report all other things being equal.
US Crude Inventories sit 10.2mil BBL above the 5yr mov avg. At the decline pace of recent weeks, US Crude Inv could fall below the 5yr mov avg with the next report.
