I Think Gasoline’s Fixin’ to Go Through the Roof

The Energy Department has released last week’s inventory data. Crude oil supply rose a more than expected 2.03 million barrels; analysts had anticipated a 950,000 barrel build. Meanwhile, gasoline inventory fell 5.34 million barrels — a drawdown that was much greater than the expected 1.45 million barrel decline. That portion of the data is shifting into focus as the summer driving season approaches, and is bullish for energy markets.

Great. And things haven’t even begun swirling off the African Coast or in the Caribbean.

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