Wow.. talk about a WHOPPER!!

US inventories have been adding a million barrels per day since the begging of the year and insiders are now wondering if we have enough storage capacity to handle the overly burdensome supply.

http://vantrumpreport.com/how-much-lower-can-oil-prices-slide/?utm_content=buffer0c1f6&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer

We have been adding about.. a myn to 1.4 myn bbls to Storage PER WEEK... we are about 60% full.. we could CONTINUE AT THIS PACE for almost another FOUR YEARS!!!  According to Rapier.. who btw Worked at a Refinery and knows what he is talking about...

http://www.energytrendsinsider.com/2015/03/11/is-the-u-s-running-out-of-crude-oil-storage/#more-17620

Since early October, crude oil inventories in Cushing have increased each week by an average of 1.4 million barrels (and as noted above, 1 million barrels per week across the entire U.S.)

with 200 million barrels still available, oil producers could continue to add a million barrels a week for nearly 4 years before crude oil storage is actually full.

We will PROBABLY NOT continue adding at this pace going forward

 As Rapier says above..  We are currently in the season when refinery utilization is lowest. Refiners take equipment offline in fall and spring to do maintenance, so they use less crude oil at this time of year. This maintenance usually peaks in March, and then crude oil demand picks back up as refiners gear up for the summer driving season. The difference in refinery demand between this time of year and summer is generally around a million barrels per day, so even if nothing else changes that storage build should start to flatten.

Wow.. Van Trump may be correct that we could see some more pressure on prices.. but similarly his arguments about a peace dividend in lower crude could also go up in flames should PEACE end in the Middle East.

No doubt today it was lower.. so I'll concede that.. but I locked diesel in a few weeks ago.. and the market is about 10% higher as of today.  "We'll see" if it gets back down there...  ???

The dollar strength is clearly at play.. but these forces are not going to continue forever..  and remember that we ALREADY have a PEAK in US production BAKED into the future.. look at the rig count decline.

That article was HORRENDIOUSLY BAD... A Myn bbls build PER DAY...  not a lot of confidence that he knows what he is talking about..

"Corn went up $5 per CWT today.."  would be a similar statement..  JUST.. a LITTLE off...

lol.