RBOB settles higher amid Atlantic Coast, Midwest gasoline draw

摘要

NYMEX RBOB settled just under five-month highs Wednesday as inventory draws in major demand centers tightened supply outlooks in the final weeks before the busy summer driving season. May RBOB settled 2.27 cents higher at $1.9512/gal, while May ULSD was down 21 points at $2.0068/gal. Nationwide gasoline inventories fell 1.78 million barrels to 236.84 million barrels during the week-ended March 29, US Energy Information Administration data released Wednesday showed. The draw narrowed the inventory surplus to the five-year average to 1.38%, from 1.53% during the week prior. Gasoline draws were centered in the Midwest and Atlantic Coast, where stocks fell 1.05 million barrels and 953,000 barrels, respectively. The USAC draw narrowed the regional supply overhang to 3% above the five-year average, in from 4.1% during the week prior, while Midwest stocks moved to a 1% deficit to the five-year average, from a 0.4% surplus the week before.