RE:a bullish fact from the EIA report.. if you agree with meEstevanOutsider wrote: between refinery utilisation decline week over week (2.8% = 440,000kbpd aprox) and import increase 1.6mmbbl/d, that is an astonishing 42,000,000.
Had we maintained the same import # and refining utilisation, just imagine what the outcome could have been.
it's all about Cushing draws since it is the store of heavy crude that is needed by the refineries. the US is producing a lot of light crude, but the market for it just isn't there.
keep your eyes on Cushing, everything else is noise