This report marks a healthy start to the gasoline buildup for the summer driving season. A few more weeks of this kind of healthy build will help further assure the market that gasoline prices this summer will head south.
More Quotes from Rakesh Shankar:
Inventories for this time of the year remain astoundingly above average.Rakesh Shankar
There are some fears now in the natural-gas market of a return to colder than average weather for the next few weeks.
Rakesh Shankar
The recent cold snap seems more like a last hurrah for Old Man Winter, and with barely a few weeks left in the winter season, inventories for natural gas remain in near record territory. This will ensure that any price gains for natural gas in the aftermath of today's report will be limited.
Rakesh Shankar
This week essentially marks the death knell for winter.
Rakesh Shankar
Refinery utilization still remains very weak, with refineries still lagging in their recovery from an aggressive March maintenance schedule.
Rakesh Shankar
We are entering spring with near-record levels of inventory. A recent cold spell notwithstanding, few people now care about surprises in this release, seeing as how total inventories are nearly 70 above average.
Rakesh Shankar
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Based on Topics: Health Quotes, Summer QuotesTell the Government, our people shall not starve.
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