Comment by
masfortuna on Oct 18, 2023 11:04am
So do you have a theory for the massive 1 week build that we got last week?
Comment by
Moemoney42 on Oct 18, 2023 11:31am
"So do you have a theory for the massive 1 week build that we got last week?" The beginning of refinery maintenance season & retooling for winter grades.. this too shall pass soon..
Comment by
masfortuna on Oct 18, 2023 11:46am
and that's what i attributed it to as well. In addition Keystone was shut. the only caveat is that the maintenance usually takes several weeks so we should have seen a continuation of the build. Bottom line is I think these guys are pulling numbers out of a hat most of the time and have an agenda to try and surppress th price of oil.
Comment by
Moemoney42 on Oct 18, 2023 11:57am
Agreed absolutely..! I've lost confidence in these reports long ago if you've read any of my posts over the last year or so.. they're too USA centric.. global numbers are far more important.. IMO
Comment by
jack4567 on Oct 18, 2023 12:34pm
"...so we should have seen a continuation of the build." Maybe the reason no continuation of build was seen was that demand was so much in excess of supply that there was a net draw, despite the usual build for maintenance and tooling.
Comment by
Moemoney42 on Oct 18, 2023 2:02pm
The thing about the gas builds.. when the price is high, people tend to buy less at the pump weekly.. when the price drops, as it did last week, folks decide lets "fill er up" when the price is low.. so with 10's of millions of drivers state side, when they collectively decide to buy, the numbers react accordingly.. nothing to see here folks.. its steady as she goes IMO..