There is a lot of nervousness about gasoline after the huge decline in supplies the last five weeks. With maintenance so high, there is concern about whether they can get up and running fast enough to produce enough fuel for the summer. |
There is still concern about distillates. Once a big batch of cold weather moves in, prices will surge. |
This reminds us how dangerous the world is, especially the Middle East, where so much of our oil comes from. |
We have historic crude-oil inventories and close to record prices, which is a break from the normal pattern. You would expect high inventories to lead to low prices but that's not the case. There are obviously other things at work. |