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CRAK - Crude Inventory Down 13% With Half Coming From SPR
VanEck Vectors Oil Refiners
Until the energy industry feels safe in starting multi-million dollar projects, they need to have some level of confidence those projects are not going to be scrapped on a whim from Washington.
The current state of the energy market will have a decent, long-tail effect on the future that is negative for consumers.
Since March 2021, the total US crude inventories has fallen 143mil BBL or ~13%.