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USOU - Weekly Oil Storage Report: Adjustment Will Come Home To Roost
United States 3x Oil Fund
Note: This article was published after last week's EIA oil storage report. This was first published to HFI Research subscribers on May 4th.
Another report and another unexplainable positive adjustment factor that added close to half the build. For the second week in a row, the adjustment is unexplainable, as we wrote in an article earlier this week titled, "EIA's Oil Data Has Far More Questions Than Answers." The two biggest divergences between our estimate and EIA's came from a disappointing US refinery throughput and the adjustment.