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YGRN - Open Insights: EIA's Weekly Petroleum Report (09/20/19)
Bank of Montreal ZC SP ETN REDEEM 25/03/2039 USD 50 - Ser E YGRN
Continuing our weekly series, Open Insights, we'll take a look at the EIA's Weekly Petroleum Status Report ("WPSR") for the week of September 20, 2019.
EIA reported a 2.4M barrel crude draw for the week as refinery utilization declined slightly by 1.4%. Tropical Storm Imelda will play a bigger factor in refinery outages in the upcoming week. Crude exports again stayed high, and the four-week average continues to stay above 3M bpd. We anticipate there's more to come given the processing outage in Abqaiq. More on that later.
Gasoline inventories increased negligibly by 519K barrels