"Gasoline demand in the United States rose by 1.7% last week, and was also 3.7% higher than the four-week moving average, GasBuddy reported as quoted by Reuters."
Read more: https://www.zerohedge.com/markets/us-ga ... rise-again
There will also be a spike in demand for diesel, which occurs each spring. Farm equipment burns a lot of diesel.
OECD Petroleum Inventories are well below the 30 Days of Consumption level. A decline to less than 25 Days of Consumption would be "unchartered territory" and like send Brent over $120/bbl.
Demand for transportation fuels will spike in Q2
Demand for transportation fuels will spike in Q2
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group