|Summary of Weekly Petroleum Data for the week ending September 6, 2019 ................................................................|
U.S. crude oil refinery inputs averaged 17.5 million barrels per day during the week ending September 6, 2019, which was 114,000 barrels per day more than the previous week’s average. Refineries operated at 95.1% of their operable capacity last week. Gasoline production increased last week, averaging 10.4 million barrels per day. Distillate fuel production increased last week, averaging 5.3 million barrels per day.
U.S. crude oil imports averaged 6.7 million barrels per day last week, down by 180,000 barrels per day from the previous week. Over the past four weeks, crude oil imports averaged about 6.7 million barrels per day, 11.7% less than the same four-week period last year. Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 797,000 barrels per day, and distillate fuel imports averaged 44,000 barrels per day.
U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 6.9 million barrels from the previous week. At 416.1 million barrels, U.S. crude oil inventories are about 2% below the five year average for this time of year. Total motor gasoline inventories decreased by 0.7 million barrels last week and are about 3% above the five year average for this time of year. Finished gasoline inventories increased while blending components inventories decreased last week. Distillate fuel inventories increased by 2.7 million barrels last week and are about 6% below the five year average for this time of year. Propane/propylene inventories increased by 0.7 million barrels last week and are about 14% above the five year average for this time of year. Total commercial petroleum inventories decreased last week by 3.1 million barrels last week.
Total products supplied over the last four-week period averaged 21.6 million barrels per day, up by 0.4% from the same period last year. Over the past four weeks, motor gasoline product supplied averaged 9.7 million barrels per day, up by 0.2% from the same period last year. Distillate fuel product supplied averaged 3.9 million barrels per day over the past four weeks, down by 2.1% from the same period last year. Jet fuel product supplied was down 0.8% compared with the same four-week period last year.
Black Blade (a.k.a. "Dennis Erectus"):
This week's EIA Petroleum Inventory Status Report is MODERATELY BULLISH as Crude and refined product Inventories decreased with refinery utilization rebounding to just over 94%. Well so much for the "economic recession" talk. It would appear that the warnings of "recession" were somewhat exaggerated. Demand for transportation fuels looks to have picked back up even as trucking has slowed with numerous layoffs. Add to this the falling rig counts and soon to be slowing crude production (unless they get crackin and get back to frackin some well completions).
As for the "Blade Portfolio" this week we continue to add APTS, BRG, NRZ, USAC and ET to the portfolio this week for income. We also continue to add physical American Silver Eagles with our "dollar-cost-averaging" strategy. We also continue to add to our eREIT sector through Crowd Funding ventures FUNDRISE and RICH UNCLES. We traded haven't traded any Crypto Currencies this week as we wait to see what shakes out. Precious metals have been very good for us lately and we continue to use precious metals as our hedge.
As always, get out of debt and stay out of debt, accumulate physical Silver and Gold bullion as "portfolio insurance", and stockpile supplies of long term nonperishable foods and basic necessities into storage. After all we do "live in interesting times".