RE:RE:Shoulder season and CL inventory drawsGambinoB wrote: Brilliant Sherlock...points exactly
This IS the historical season for build and called shoulder season
NO LONGER
Which means wait for spring.
Bidem is in trouble and made a BIG mistake with the SPR
Unless you think Joe was smart and there was no issue selling the SPR this year
If so we know where you stand
Lmfao
65F09A wrote: Posters 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....
Keep posting dumb and dumber!
Oil traders will know that WTI crude oil (USO) usually does not perform very well during the shoulder season, which is roughly from the end of Labor Day to the end of October. This is the time after the summer driving season when gasoline demand wanes and also the time when some refineries will go down for maintenance in preparation for the winter heating season.
As you can see from the chart below, oil has fallen in thirteen of the last twenty years in the month of October. And in six of those years, it experienced a significant 10% or greater decline (when the numbers are rounded up). Based on the historical data, there is a 65% chance of oil falling this month and a 30% chance of a significant fall.