• 3 minutes 2nd Annual Great Oil Price Prediction Challenge of 2019
  • 6 minutes "Leaked" request by some Democrats that they were asking Nancy to coordinate censure instead of impeachment.
  • 11 minutes Trump's China Strategy: Death By a Thousand Paper Cuts
  • 14 minutes Democrats through impeachment process helped Trump go out of China deal conundrum. Now Trump can safely postpone deal till after November 2020 elections
  • 1 hour Shale Oil Fiasco
  • 3 hours Everything you think you know about economics is WRONG!
  • 4 hours USA v China. Which is 'best'?
  • 16 hours Wallstreet's "acid test" for Democrat Presidential candidate to receive their financial support . . . Support "Carried Interest"
  • 2 hours Global Debt Worries. How Will This End?
  • 12 hours My interview on PDVSA Petrocaribe and corruption
  • 2 hours Quotes from the Widowmaker
  • 1 day Wonders of US Shale: US Shale Benefits: The U.S. leads global petroleum and natural gas production with record growth in 2018
  • 34 mins Judiciary impeachment: Congressman says Sean Misko, Abigail Grace and unnamed 3rd (Ciaramella) need to testify.
  • 1 hour Tesla Launches Faster Third Generation Supercharger
  • 23 hours Petroleum Industry Domain Names

The Gasoline Glut Is Almost Gone

Gasoline

Friday July 21, 2016

In the latest edition of the Numbers Report, we’ll take a look at some of the most interesting figures put out this week in the energy sector. Each week we’ll dig into some data and provide a bit of explanation on what drives the numbers.

Let’s take a look.

1. Gasoline inventories back in long-run average

(Click to enlarge)

- U.S. gasoline stocks spiked in early 2016, one factor that led to the precipitous decline in prices.
- Stocks have remained mostly elevated since then, but more recently, strong drawdowns have erased the excess.
- Over the past three weeks, gasoline stocks have plunged by nearly 10 million barrels, putting current stocks not just back into the five-year average, but close to the 10-year average.
- Gasoline inventories now stand at roughly 231 million barrels, or about 24 days’ worth of supply.
- Much of the recent drawdowns can be attributed to a surge in exports to Latin America, while imports have also dipped.
- Combined with the recent drawdown in crude oil inventories, the more balanced gasoline supply situation is creating a sense of a tightening market. It is no coincidence that Brent hit $50 per barrel on Thursday for the first time since early June.

2. Clean energy performing better than coal and even S&P

(Click to enlarge)

- The WilderHill Clean Energy Index, an index of 40 publicly-traded solar and wind companies,…




Oilprice - The No. 1 Source for Oil & Energy News