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BNO - Open Insights: EIA's Weekly Petroleum Report (10/11/19)
United States Brent Oil Fund LP ETV
We took a brief hiatus from our weekly series Open Insights to update our oil thesis, recently published here. Picking up last week, we’ll do a quick one for today, and take a look at the EIA’s Weekly Petroleum Status Report (“WPSR”) for the week of October 11, 2019.
EIA reported a 9.3M barrel crude build for the week as refinery utilization continued to stay low at 15.4M bpd, an almost 200K bpd decline from the prior week. Maintenance season should begin to fade as we head into the week of October 18th data,