Wednesday, April 11, 2007

More Crude Awakenings

Again, the numbers remain very bullish for gasoline.

Crude inventories rose by 678,000 vs. consensus estimate of a 1.7 mln gain. Gasoline inventories slumped 5.48 mln vs. consensus estimate of a 1.4 mln draw. Distillates rose by 170,000 vs. consensus estimate of a 850,000 decline.

Front month RBOB gasoline has surged ahead by more than 4c/gal to $2.17.

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