On the crude oil side, the US strategic petroleum reserve is declining rapidly.[1] That took a hit during COVID and the early Ukraine war because production was down. Refilling started afterward, but didn't take it up to normal levels. There's still maybe a year of oil left.
[1] https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=W...
toomuchtodo•1h ago
Related:
https://en.wikipedia.org/wiki/Crack_spread
https://rbnenergy.com/market-data/3-2-1-crack-spread
https://www.eia.gov/todayinenergy/detail.php?id=1630
https://financialpost.com/news/posthaste-an-energy-shock-muc...