…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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