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(Reuters) U.S. gasoline demand rose to 9.46 million barrels per day (bpd) last week, the most for this time of the year since 2021’s record high of over 10 million bpd, data from the U.S. Energy Information Administration (EIA) showed on Wednesday. Product supplied of gasoline, EIA’s measure of demand, rose by 673,000 bpd in …
US Gasoline Demand Rose Last Week to Highest Seasonal Level Since 2021 – EIA Read More »
The Biden administration’s draining of the Northeast Gasoline Supply Reserve is another cynical ploy to disguise that its real goal is to raise gas prices. By Alex Epstein The Biden administration claims that draining the Northeast Gasoline Supply Reserve shows its commitment to low gas prices. In fact, this is yet another cynical ploy to …
NEW YORK (AP) — Gas prices are once again on the decline across the U.S., bringing some relief to drivers now paying a little less to fill up their tanks. The national average for gas prices on Monday stood around $3.44, according to AAA. That’s down about 9 cents from a week ago — marking …
Summary US jobs data dampens hope for near-term interest rate cuts Goldman Sachs forecasts Brent rise to $86 in third quarter Other analysts expect inventory draws to support prices (Reuters) – Oil prices edged up on Monday, buoyed by hopes of rising fuel demand this summer, though gains were capped by a strengthening of the …
Oil Nudges Higher on Hopes of Summer Fuel Demand Read More »
(Reuters) – The U.S. gasoline market is flashing signs of weakness at the start of summer driving season, a time it generally picks up strongly, and analysts say this clouds the picture for oil demand ahead of the OPEC+ group policy meeting that kicks off this weekend. U.S. gasoline demand fell about 2% week-over-week to 9.15 million barrels a …
Weak U.S. Gasoline Demand Compounds Pressure on Oil Ahead of OPEC+ Meet Read More »
U.S. crude oil refiners aim to operate above 90% of their combined processing capacity for the remainder of the quarter after completing planned overhauls, said analysts contacted by Reuters. Strong spring production levels have retail gasoline prices on par with a year ago, according to motorist group AAA. The nationwide average price for a gallon …
US Refiners Boosting Fuel Output Past 90% of Capacity for Summer Driving Season Read More »
U.S. gasoline prices and refining margins have come under pressure as inventories deplete more slowly than normal for this time of year, indicating supplies are plentiful, and undermining the bullish case for the fuel. Just over a month ago, investors had amassed one of the largest bullish positions in U.S. gasoline futures and options since …
Investors Abandon Bullish Case for U.S. Gasoline: John Kemp Read More »
Gasoline demand growth to slow this year on EV growth in China, U.S. Summary China to make up more than half of global EV sales in 2024, impact gasoline demand European margins to weaken after new Nigeria refinery ups output U.S. gasoline consumption likely to be flat in 2024 -analysts (Reuters) – Global petrol demand …
Gasoline Demand Growth to Slow This Year on EV Growth in China, U.S. Read More »
The cost of gas at the pump is already up 18% this year, but Congress is urging tougher sanctions enforcement. With only six months to go before the election, President Joe Biden’s strategy to lower gasoline prices is in jeopardy. The administration’s soft approach to sanctions on oil from Iran, Russia and Venezuela has been key …
Biden Strategy to Tame Gas Prices Is in Peril as Iran Sanctions Pressure Mounts Read More »
Portfolio investors have amassed one of the largest bullish positions in U.S. gasoline futures and options since before the coronavirus pandemic, anticipating that prices will continue climbing over the next few months. U.S. gasoline has emerged as the most attractive part of the petroleum complex for investors betting prices will rise further this year in …
Investors Bet on Further Rise in U.S. Gasoline Prices: John Kemp Read More »
