Rodent + 1,424 May 30, 2018 Total liquid fuels inventories return to five-year averages in the United States and OECD https://www.eia.gov/todayinenergy/detail.php?id=36392 Quote Share this post Link to post Share on other sites
William Edwards + 708 May 31, 2018 If you look closely you will see that inventories moved above the five-year average only AFTER the late 2014 price collapse had begun, not before. How does that fact fit in with the common perception that is is high inventories that create price drops? In fact, immediately preceding the beginning of the price drop, inventories were at the lowest levels of the decade. Please explain. 1 Quote Share this post Link to post Share on other sites
Rodent + 1,424 May 31, 2018 5 hours ago, William Edwards said: If you look closely you will see that inventories moved above the five-year average only AFTER the late 2014 price collapse had begun, not before. How does that fact fit in with the common perception that is is high inventories that create price drops? In fact, immediately preceding the beginning of the price drop, inventories were at the lowest levels of the decade. Please explain. I would love to see the price overlayed on that chart to see the correlation, lag, and what leads. The lovely thing about data and numbers is that while it's possible to misinterpret them, they never lie. Anyone care to add price to that data and regraph? Quote Share this post Link to post Share on other sites