This week's full report.
Gasoline rose +4.5¢ for the week, but remains below year ago levels, by -7.9¢, or -2.2%. Consumption edged up... per this past report, yet still remains below year ago levels, by just -2.4%.
Inventories were mixed, with crude inventory up 3.6M barrels; Distillates down 377K barrels; Gasoline rose 2.7M barrels. Total Petroleum + products +SPR rose +9.4M barrels, with the SPR rising +1.3M barrels.
For those interested, the exports of Crude, Petroleum Products, Including Gasoline has far outweighed the imports, by this much, since March, 2022.
The current crack spread has risen from last week's $22.87, to $26.37. Gasoline at $15.93 from last week's $13.95. Distillates to $10.44, compared to last week's $9.65.
All things considered, the outlook for pump prices going any lower is not very likely. In fact, the potential for a very slight rise is in the offing. Which is odd, given the lowering of consumption and the days supply rising.
Still... nothing extreme in the current forecast, imho.
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