Shoulder season and CL inventory drawsPosters keep saying 'we are drawing and it is shoulder season'. Refinery utilization in November was the highest in the last 20 years. Utilization averaged over 93.5% in Nov22 (95.2% week 4) Peak utilization was in June this year at 94.2%.. CL got put through refineries and turned into products.
There was nothing shoulder season about it....