US Crude Storage Outlook - Build But With A Caveat

For the week ending Dec 8, we have a crude build of 3.74 million bbls. While we are expecting a build for this week, readers should note our commentary about EIA's export/import timing in last week's report. We estimated a delta of ~6 million bbls. If our theory is correct, EIA will report a draw of ~2 million bbls instead.