Crude stocks should show a sizable increase as an expected further recovery in imports toward 10 million barrels a day more than negates the impact of additional refinery restarts.
More Quotes from Jim Ritterbusch:
That's pretty close to a capacity pace in imports. It looks like the Saudis are more than offsetting the Iraqi loss,Jim Ritterbusch
You still have a sizable year-on-year deficit in distillate stocks, so it's too early in the winter to write off this distillate market,
Jim Ritterbusch
Crude supply is no longer an issue. We have plenty of it. However, that crude number is being countered to some extent by the large decline in gasoline stocks.
Jim Ritterbusch
By and large you had this myriad of refinery news which supported the products and pushed crude prices up.
Jim Ritterbusch
The gasoline draw is a bullish number, without doubt. The decline was much bigger than the 1.1 million barrels draw the Street was anticipating,
Jim Ritterbusch
It's easy to analyze this one because there is only one number to talk about. That gasoline build was just huge again.
Jim Ritterbusch
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