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QP - The Week in Crude Oil Markets - July 08, 2019



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US crude oil inventories posted a decrease of 1.1 MMbbl last week, according to the weekly EIA report. Gasoline inventories decreased 1.6 MMbbl while distillate inventories increased 1.4 MMbbl. The total petroleum inventories showed an increase of 2.5 MMbbl. US crude oil production increased 100,000 bbl/d last week per EIA. Crude oil imports were down 900,000 bbl/d, to an average of 7.6 MMbbl/d, versus the week prior. Prices tried to keep the bullish momentum from the previous week rolling forward, but......
 
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