That's pretty close to a capacity pace in imports. It looks like the Saudis are more than offsetting the Iraqi loss,
More Quotes from 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
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
We're not seeing enough pickup in production or imports. This should be enough to support the whole energy complex through the balance of the week.
Jim Ritterbusch
The gasoline figure was the important number, the decline was much larger than expected.
Jim Ritterbusch
But they do provide evidence that the oil infrastructure can bounce back pretty quickly after a really bad storm. These gasoline numbers give a cushion.
Jim Ritterbusch
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