Cardinal Energy Ltd (Alberta) T.CJ

EIA Reports Inventory Build

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U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 0.8 million barrels from the previous week. At 419.1 million barrels, U.S. crude oil inventories are about 4% below the five year average for this time of year. Total motor gasoline inventories increased by 2.3 million barrels from last week and are about 1% below the five year average for this time of year. Both finished gasoline inventories and blending components inventories increased last week. Distillate fuel inventories increased by 2.3 million barrels last week and are about 8% below the five year average for this time of year. Propane/propylene inventories increased by 1.1 million barrels from last week and are 13% above the five year average for this time of year. Total commercial petroleum inventories increased by 9.0 million barrels last week.

https://ir.eia.gov/wpsr/wpsrsummary.pdf

It's small and inline with expectations but combined with everything else going on,well, you know. 

GLTA

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Part of a news stoy from oilprice. A build of 800,000 B moves prices lower but.... Oil Moves Lower as EIA Confirms Small Crude, Gasoline Build By Irina Slav - Sep 11, 2024, 9:38 AM CDT Crude oil prices went down today after the Energy Information Administration reported an estimated inventory build of 800,000 barrels for the week to September 6. This 

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"drowned by pessimism about demand." Gee that doesn't sound anything like political bias or SPR abracadabra. It almost sounds like they might think demand could be lower.  HUH!  Maybe Irena needs a big drink of your kool aid.  She can meet  you at EN's place and he can mix up a big batch and you can all suck and swallow until your hearts are content. I