Option Millionaires

[uranium-pinto-beans]

U.S. crude oil inventories dove -12.6 M barrels in the November 25 week, according to the EIA, after sliding -3.7 M barrels previously. This is 4-times the forecast and is largest draw since June 2019. Gasoline stocks rose 2.8 M barrels after rising 3.1 M previously. And distillates were up 3.6 M after the prior 1.7 M gain, countering talk of supply shortages. Bloomberg reports inventories are now just 13% below normal, versus 23% in June. WTI crude oil prices are little changed, but climbed back over the $80 figure overnight and currently trades at $80.50. It hit a low for the year at 73.60 on Monday. Meanwhile, refineries have been boosting runs and are up for a fifth straight week to 95.2% of capacity. That too is the highest since the summer of 2019.