You're welcome.  I hope this clears up to some degree the apparent and repeated "contradiction" that we are awash with oil in inventories, so how can we be short of crude.  The reality is there is no contradiction -- curde oil inventories -- when adjusted for SPR withdrawls -- are very low.  

Actually it is easy to get this idea -- the latest EIA weekly oil report released 9/20/06 begins with the title "How Low Can it Go?" and relies on both "technical" chart data (it is stated that the decline represents "the second-largest uninterrupted decline in the history of the survey (dating back to August 1990") and then also uses inventories as a reason why oil prices are dropping.  A chart is very conspicuous that shows higher than average crude oil inventories (of course no mention of world oil inventories and the fact that we've withdrawn from the SPR).  No other reasons are given for the price decline. see: http://tonto.eia.doe.gov/oog/info/twip/twip.asp

Actually correct that, the EIA says there are some "seasonal" factors to the decline of gasoline in addition to technical and inventory.
Actually correct that, the EIA says there are some "seasonal" factors to the decline of gasoline in addition to technical and inventory.
Actually correct that, the EIA says there are some "seasonal" factors to the decline of gasoline in addition to technical and inventory.