Days supply is a useful measure that puts supply in perspective by comparing it to daily demand… Thanks to a very high throughput rate, US crude oil stocks are tightening compared to last year:
Distillates supplies, too, are looking less plentiful than last year, despite a warm winter:
Gasoline is troublesome… Too much gasoline is being made, not enough is being consumed:
Charts above are from This Week in Petroleum…
From barchart.com, here is a chart showing the relative value of gasoline vs. distillates:
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