I’ve taken some time to update the Refinery Status page with the latest knowledge of refinery issues, make sure to check it out by clicking the link at the top of the page “Refinery and U.S. Pricing Status”
Now, on to the DOE report, which was good, except for a few things.
Refineries utilized just 85% of their capacity- the lowest in nearly two years… BUT gasoline inventories still gained by nearly 4 million barrels. We’re sitting just under last year in terms of gasoline stockpiles… still room for improvement before the spring run up!
Oil inventories rose, again… gasoline inventories rose, again.
Look for prices to fall back under $3 with ease. No concern for a price hike for some time.
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