EIA and API Gaps

[Cliff_N]

Huge EIA draw today vs the API small build yesterday; 564K build for API and 4.6 million draw for EIA, both do surveys and then make estimates. This sort of gap defies statistical sampling theory. EIA Report summary this AM:

"U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve)
decreased by 4.6 million barrels from the previous week. At 445.0 million barrels, U.S. crude oil
inventories are about 1% below the five year average for this time of year. Total motor gasoline
inventories increased by 5.4 million barrels from last week and are about 1% below the five year
average for this time of year. Both finished gasoline and blending components inventories
increased last week. Distillate fuel inventories increased by 1.3 million barrels last week and are
about 13% below the five year average for this time of year. Propane/propylene inventories
decreased by 1.8 million barrels from last week and are 18% above the five year average for this
time of year. Total commercial petroleum inventories decreased by 1.7 million barrels last week."

[Fraser921]

propane 18 % above does not help AR