This is somewhat true in our own backyard and Inventory ,However Commodities don't work like that on the World Markets,everything is Future's Based and i mean everything.

It's like saying this Basket is full and were fine and your not looking at the whole Barrel ,the prices aren't up because of a shortage on the planet as of today ,there up because of the uncertainty of Iran loosing it's wells output percentages tomorrow in which it would effect the entire planet's output.