The weekly inventory report showed a draw on crude of 4.2 million barrels but gasoline saw a build of of 3.3. millior barrels while distillate had a smaller build of 1.2 million barrels. Last week was the end of the year and refiners were still working out their inventory tax valuations. The reported increase in private sector jobs created last month, however, did lead to price increases for crude and both products. Refinery utilization rose 0.2% to 88%. Fuel demand was down 7.8% last week to 19.1 million barrels while gasoline fell 5.8% to 8.85 million barrels.
Today, crude +$1.12, $90.34; gasoline +3.64¢, $2.4457; distillate +3¢, $2.5425.
No comments:
Post a Comment