Ya'll are sucking on the diesel tanks pretty hard.. as refined inventories fall.. harvest rolls on.
( https://www.cnbc.com/2017/10/24/oil-eases-but-still-near-four-week-highs-after-saudi-supply-pledge.html ) The U.S. Energy Information Administration reported that crude inventories rose by 856,000 barrels in the week to Oct. 20. Analysts had expected a decrease of 2.6 million barrels. Production rebounded from a sharp falloff due to Hurricane Nate, and imports rose as well. However, the EIA data showed gasoline and distillate inventories both fell by more than 5 million barrels, and refinery utilization rates rose 3.3 percentage points. "Product stocks fell sharply despite higher processing, which points to very robust demand," said Carsten Fritsch, oil analyst at Commerzbank AG in Frankfurt, Germany.
Do they account for 200+ million acres of fall crops coming out of the field when they talk about "demand?" just in the US..
Edited by JonSCKs 10/26/2017 07:00
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