U.S. central bank cannot drill for more oil ($BBG)
China’s coal use falls even as production rises
India to continue importing cheap Russian crude
India sources more coal imports from Indonesia
EU/Russia find compromise over gas payments
LNG market grapples with multiple uncertainties
Urban heat islands in Europe
U.S. PETROLEUM inventories depleted by -5 million bbl to 1,686 million bbl last week. Stocks have fallen in 73 of the last 99 weeks by a total of -432 million bbl since the start of July 2020:
U.S. DISTILLATE inventories increased by +2 million bbl to 107 million bbl last week – the second consecutive weekly increase. Stocks have probably reached their seasonal low and are rising as normal at this point of the year as refineries boost crude processing to make more gasoline. But they are still at the lowest seasonal level for more than 15 years:
U.S. DISTILLATE inventories on the East Coast (PADD 1), where shortages have been most acute, fell by another -1 million bbl to 22 million bbl last week:
U.S. GASOLINE inventories fell -0.5 million bbl to 220 million bbl last week – the lowest seasonal level since 2014:
SIGN UP to receive best in energy and my research notes every day by adding your email to the circulation list here: https://eepurl.com/dxTcl1
JKempEnergy.com 