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Friday, March 20, 2020 9:43:43 AM
fundamentals on the other hand says other wise:
EIA oil report.
U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve)
increased by 2.0 million barrels from the previous week. At 453.7 million barrels, U.S. crude oil
inventories are about 3% below the five year average for this time of year. Total motor gasoline
inventories decreased by 6.2 million barrels last week and are near the five year average for this
time of year. Finished gasoline and blending components inventories both decreased last week.
Distillate fuel inventories decreased by 2.9 million barrels last week and are about 11% below
the five year average for this time of year. Propane/propylene inventories decreased by 300,000
barrels last week and are near the five year average for this time of year. Total commercia
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