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Meanwhile, keep watching for shortage reports, because we should start seeing some sneak in this week, if our doom-o-meter is calibrated correctly.

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Declining US gasoline stockpiles drives prices higher

MJ writes: Gasoline demand is up, but stock levels are similar to year-ago levels, despite crude oil stocks being at their highest levels for almost three years.

The Organisation of the Petroleum Exporting Countries (Opec) increased oil supplies by 500,000 barrels a day to 27.5 million barrels in mid-March.

But its president, Sheikh Ahmad al-Fahd al-Sabah, said last week he did not think further increases were needed before the third quarter.

BBC News

Posted on Thursday, March 31 @ 04:05:37 PST by BabyPeanut

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