US Crude Storage Outlook - Bloated Imports Imply A Build

For the week ending August 23, we have a crude build of 2.75 million bbls.

Last week's EIA data showed a material jump in modified adjustment. We believe there's a good chance EIA counted some of the crude imports we are seeing for this week into last week's report. As a result, we could see EIA report no build in this week's report.