Sturdy product inventories should help to temper market fears of energy shortages, and should help cajole broader energy prices lower in the next few weeks.
More Quotes from Rakesh Shankar:
The drawdown in crude inventories came at a time when refinery utilization remained low due to scheduled maintenance shutdowns.Rakesh Shankar
Inventories are extraordinarily sturdy, and OPEC's commitment, at least in the near term, to not cut production should only serve to reinforce the ample supply of oil in the market.
Rakesh Shankar
There is a real risk that U.S. refineries will be unable to sufficiently bring back capacity in time for the summer driving season. This will force increased reliance on gasoline imports, and higher prices for consumers.
Rakesh Shankar
Refinery utilization still remains very weak, with refineries still lagging in their recovery from an aggressive March maintenance schedule.
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
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Based on Topics: Energy QuotesBased on Keywords: cajole
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