The US Crude Oil pumping rate remains at a RECORD for the third straight month.. pumping 2.21 million bbls per day over a year ago.. 11.7 million bbls per day vs 9.5 last year..
Which is leading to a build in US Crude Oil stocks..
It's really puzzling how 23.2 myn bbls of ethanol are "burdensome" while 439.7 myn bbls of Crude are reported and the market bounces over $2 a bbls...?!?Sure seems to be a disconnect...
Especially given that Ethanol exports have been pretty robust.. and upward sloping..