INVENTORY FINANCING AGREEMENT (Tables)

9 Months Ended

Sep. 30, 2022

Inventory Disclosure [Abstract]

Schedule of Inventory

The following table describes the Company's inventory balances by category (in thousands):

	As of September 30, 2022		As of December 31, 2021
Crude oil	$	60,504	$	926
Refined products	97,568		4,729
Re-refined products	6,590		2,376
Total hydrocarbon inventories	164,662		8,031
Other inventories	5,110		—
Total inventories	$	169,772	$	8,031

The following table summarizes our outstanding obligations under our inventory financing agreements as of September 30, 2022 (in thousands):

	September 30, 2022
Obligations under inventory financing agreement	$	135,744
Unamortized financing cost	(1,500)
Obligations under inventory financing agreement, net	$	134,244

The valuation of our obligations at the end of each reporting period requires that we make estimates of the prices and differentials for our then monthly forward purchase obligations.