So there has to be a logical explanation to this

This week’s U.S. inventory numbers show a pretty significant increase and have been showing the same trend for the past couple of weeks. The production, imports and refining volumes are pretty static so why is the price going up so much? It cannot be a simple supply and demand issue. There is plenty of supply and demand has not changed significantly. There is a surplus of crude in the system and prices are extremely high which is directly in conflict with high pricing from supply shortage.

Interestingly, the volumes are slightly above average for this time of year after having been near or setting the low end of the 5 year range for quite some time now. Even with 20% of the transport of global volumes being shut off for now this amount of increase in pricing and the inventory build don’t seem to fit a logical shortage of oil volume.