Daily Energy Report

Cushing inventory decline, US/Iran deal, Saudi’s consider Chinese nuclear, Crude inventory drop, Turkey/Iraq non-deal, Russia fuel exports low, Venezuela sanctions, and more

Chart of the Day: Cushing’s inventory decline is normal, but..

Summary

Figure (1) above shows trends in inventories at Chasing, Oklahoma, where WTI is priced. The decline in recent weeks matches the historical trends in normal years. Although current inventories are low by historical standards, they are not at a record low.

EOA’s Main Takeaway