US Weekly Oil Data
US Inventories, Exports, Imports, and Refinery Utilization (Two Tables and 10 Charts)
MAIN TAKEAWAY
A surprisingly large draw accompanied by positive market sentiment increased Brent prices above $96/b (November).
US oil demand weakened last week. It is lower than that of the same period last year. However, YTD is still lower than that of last year by about 500,000 b/d.
The government added 0.3 mb of sour crude to the SPR last week.
The “adjustment” declined, but the large swings remain a concern.