Shrinking refinery capacity represents supply when it intersects falling gasoline demand as the market settled at highest NYMEX price for gasoline in 5 months. This 14¢ uptick over the past week occurred when there was barely any NYMEX crude price movement in the same week. The industry decided that only the most efficient could continue refining and refinery closures are being felt in the form of higher prices.
For the week, WTI+$1.10, $99.56; Brent+$1.60, $111.46; RBOB+14.24¢, $2.9268; HO+8.2¢, $3.0704.
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