API Petroleum Inventory Report

[dan_s]

Last night API reported crude inventories +2.81M barrels;
Gasoline reported -1.99M barrels;
Distillates reported -5.49M barrels
Cushing reported -367K barrels of crude oil

Oil price down this morning because it is becoming clear that lots of countries will line up to buy Russian oil, including China and India.

We don't have as many friends as we used to have.

[uberCOAT]

Dan,

Not so fast...particularly as it relates to China...

https://www.youtube.com/watch?v=4AZx6gajU1M