Up Up and Away We Go

Market was nearly flat this morning until the EIA released its weekly fuel inventory report. Crude inventory was down 3.410 million bbls, expectation was up 0.714 million bbls. Gasoline inventory was down 1.231 million bbls, expectation was up 0.710 million bbls. Diesel inventory was down 1.647 million bbls, expectation was down 1.007 million bbls. This…

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The Spring Surplus

Crude is lower this morning due to focused attention on the global surplus again. It seems that every time there is a dull news week we realize just how oversupplied our market still is. OPEC nations continue near record production in their ongoing goal to maintain market share. Weaker petroleum demand brought by poor economic…

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