Suncor Energy Inc T.SU

EIA: Crude -1.5M Gasoline - 2.55M Dist -1.045M

[MigraineCall]

Fresh lows in the big 3: Crude, Gasoline and Distillates.



Twitter:

EIA notes: Gasoline demand indeed hits new 2022/2023 high at 9.599m b/d; overall demand of 21.2 million b/d is highest since 12/22. Refiners still hampered by heat and summer issues. Watch the West Coast - -gas stocks drop 1.3 million bbl and are 2.2 million bbl below last year.

EIA: Crude oil exports slumped to 3.9 million barrels a day, from 5.34 million in the previous week

Imports up, exports down, shockingly only a +483K adjustment and an SPR release of 1.456M




US implied oil demand (product supplied) rose by 929kbpd w/w to 21.235mbpd last week w/w changes in kbpd gasoline +293 jet fuel -252 distillate +497 residual fuel oil +137 propane/propylene +821 other oils -568 EIA

US crude inventories fell by 2.966mb last week (commercial: -1.508mb; SPR: -1.458mb)


EIA data, week ending 6/30 Crude oil: -1.5M Domestic prod: 12.4MMbpd SPR: -1.5M Cushing: -0.4M Gasoline: -2.5M Impld mogas demand: 9.6Mbpd Distillates: -1.0M Refiner utilz: 91.1% Total exports: 9.84MMbpd

EIA (wk ending June 30) Crude: -1.508M Cushing: -0.400M Gasoline: -2.550M Distillates: -1.045M

[pooltec]

Was that the last SPR release?

[MigraineCall]

SPR release was 1.458m. Still a couple million bbls left to release from the congressional sale yet as I recall, but it is nearly done. Great trading day today! Oil flat, yet producers whacked 2.5%. Yard sale is on.