Energy & inventories

EIA weekly stocks — crude (ex-SPR), Cushing (the WTI delivery hub), gasoline, distillate, and Lower-48 natural-gas storage — each as a % deviation from its own same-week 5-year seasonal average.

How EIA Open Data weekly series, expressed as a % deviation from the trailing same-week 5-year mean; the zero line IS the seasonal norm.Formula (stock − 5yr same-week mean) / 5yr same-week mean × 100Source EIA Open Data API

How to read Below the zero line = stocks tighter than the seasonal norm; above = looser. A description of physical tightness right now.

Theory of storage links tight inventories to a backwardated curve, but this is a CO-MOVEMENT, not a price forecast — low stocks do not mean prices will rise. Industrial-metals (LME/COMEX) and grains (USDA) inventories are deferred to a later pass.

The price of WTI crude over Henry Hub natural gas — an energy-content relative-value gauge between the two energy legs, which trade on very different supply and weather drivers.

How WTI front-month divided by Henry Hub natural gas, against its own average.Formula WTI / NatGasSource Yahoo Finance — computed

How to read Where crude sits relative to gas vs their own history — a description of the energy-complex relative value, not a forecast.