The latest data from the Energy Information Administration points to a likely finish to the summer driving season. Gasoline inventories in the U.S. were pointing higher when most forecasts and expectations were leaning toward a draw. At the same time, the EIA’s measurement of gasoline demand was down slightly at 9.333 million b/d off by less than 100,000 b/d. As tropical weather starts to become more common, chances are that unless the activity is pointed at the swath of the Gulf Coast between Corpus Christi, Texas, and New Orleans, chances are that any storm will have more of an impact on demand than supply.
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