Inventory Drawdowns Mount as Summer Driving Season Gets Underway

posted in: Charts, crude oil, Energy | 0

After a record run of 16 consecutive weekly U.S. crude oil inventory builds the tide has turned and we are currently experiencing a streak of 4 consecutive weekly drawdowns:




 Via Sober Look

Given that we aren’t even at peak demand yet (typically reached in late-July) it will be interesting to see if supply ramps up over the coming weeks.