Last week brought an unexpected jump in gasoline stockpiles! Analysts were predicting a drop of 400,000 barrels while a jump of 1.3 million barrels actually occurred. Demand is flat over last year as prices remain high.
We may see oil continue to climb as we saw another drop in crude oil inventories. However, we’re still in the upper average of the range for this time of year.
Midwest PADD remained relatively flat at 47 or so million barrels.
We may see another hike depending on what oil does today.
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