About the only good news from the DOE….

…is that the Midwest PADD was up again! This week rising from 46.3 million barrels to 47.7 million. While gasoline stockpiles fell in most other locations, Midwest storage rose a very nice size chunk! We should see prices come down more, even factoring in the market increases today.

Overall, the DOE report was miserable. Oil inventories were down a catastrophic 7.1 million barrels while gasoline fell from 191.1 million barells to 190.4 (a fall of 700,000 barrels).

We should see prices come down into the 2.80s before a hike.

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