Finally…? Looks more likely that Grand Rapids and nationwide prices will start increasing again next week. We’ve seen a rally on the market Thursday and Friday as disappointing DOE results are starting to worry traders.
The DOE Report showed no increase in stockpiles as should have been the case, according to analysts surveyed. They were expecting a 1.5mb increase, but none even happened. Refiners dropped their utilization, even after analysts expected them to boost their numbers.
Grand Rapids to $3.19 is a likely target while the rest of the nation will start to see prices slowly rise for the most part.
Stay tuned especially Sunday night to see if the likelihood of said hike increases at all.
Powered by ScribeFire.