Crude inventories rose more that 2 million barrels and that figure is more than double analyst expectations. Nevertheless, Crude futures are still rising and some of the gains can be attributed to seasonal activity. Refiners also increased capacity to 89% which is further indication of higher crude outputs. The gasoline season is near and refiners are making sure that the market is well stocked. This as cited as one reason for the weakness in gasoline.
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James Sutliff