From the EIA’s This Week in Petroleum (http://www.eia.gov/petroleum/weekly/) we pulled the charts showing US oil, gasoline and distillate stocks compared with 5 year highs and lows:
Stock levels remain at historical highs, no signs of balancing in the US, yet… World demand growth is not expected to be led by the US, but even so, US demand is lackluster:
Are oil bulls on the wrong side?
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