Weekly Oil Inventory Numbers

[billfred]

FYI

Not much new there that is going to provide any relief at the pump. Demand destruction continues to receive a lot of talk but not making it to the inventory numbers.

Gasoline inventories are up a bit but still at the bottom range of the 5 yr average.

All in all, I would call this a continued bullish report for Oil Prices.

 

[needtogetarmy]

FYI

Not much new there that is going to provide any relief at the pump. Demand destruction continues to receive a lot of talk but not making it to the inventory numbers.

Gasoline inventories are up a bit but still at the bottom range of the 5 yr average.

All in all, I would call this a continued bullish report for Oil Prices.

I do not see anything that says there is a top in. Someone posted last week there was a top in and I laughed when I read the news a few days later oil made a new high.

 

[billfred]

I do not see anything that says there is a top in. Someone posted last week there was a top in and I laughed when I read the news a few days later oil made a new high.

I am with you. I really was expecting to see some demand destruction this summer. Even though everyone is saying there is, there are no inventory builds.

Anyone short oil right now is at a real risk of taking a major hit.