“Davidson” submits:

Low refinery inputs continue to lead to strong gasoline draws and only a minor reduction of US Crude Inventories leaving current US Crude levels ~15mil BBL above the 5yr move avg. Gasoline inventories are almost as low as typical end of summer drawdown which occurs in November when we typically have had a period of 6mos with strong refinery activity.

This is setting up for a sharp drawdown of US Crude inventories once expanded refinery capacity comes back online.

The next 6mos could be setting up for a major surprise for traders not watching these fundamentals develop.

(Click on image to enlarge)

(Click on image to enlarge)