George Pearkes @peark.es 路 2d Here's commercial crude inventory cover versus implied US crude demand (production - inventory change + imports - exports). Not much of an outlier (YET).
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so, maybe 4 months of further wiggle room? assuming nothing else goes sideways (narrator: everything went sideways)
Anyhow we'll see how this does if the Houthis are actually capable of shutting off Red Sea flows via Yanbu/Bab al-Mandab. I think the answer is probably "yes" but it's not a foregone conclusion.
I think this is the first time we鈥檝e seen significant competition for those inventories between domestic consumption and international demand
Knowing my luck gasoline prices will peak just in time for my car trip vacation in a couple weeks lol