Suncor Energy Inc T.SU

Reminder: EIA oil inventory report today 11AM EST

[MigraineCall]

Watch your screens today for stock price movment as oil inventory results are released to day at 11AM EST.

July 4 was a holiday, so results are delayed 24.5 hours.

Lots of eyes on this. Bears are expecting demand destruction. If they get anything other than a build, they will be proved wrong, and run to cover short positions.

[MigraineCall]

And here it is. A big commercial headline build, but again, an overall net draw. US petroleum inventories (crude, oil products, SPR) fell by 714kb w/w to 1,677.795mb last week - EIA EIA (wk ending 1 July) Crude: 8.235M Cushing: 0.069M Gasoline: -2.497M Distillates: -1.266M US crude inventories rose by 2.394mb last week (commercial +8.234mb, SPR -5.840mb) - EIA

[MaximusGainus]

The gasoline and distillate drops while refineries are cranking it out sure doesn't smell like demand destruction due to high prices to me. More pain at the pumps coming soon. I love it!

[Bigbear7405]

Where would we be without the spr draw downs.

[Clemxb7]

SPR releases still elephant in room. Without SPR inventories would have been negative by some millions. Overall it was a net drain when including SPR. Imports were up too so the positive inventory headline is pure bs. Another tidbit is Cushing is at 20 million which is considered the bare minimum operating point at the USA main crude hub. I've seen it up around 70 million in a normal week.