Should gasoline bulls be able to push price through the chart levels shown, it will portend a move back to the late summer highs of last year. As said in a previous post from last week - PAIN at the gasoline pump is now unavoidable.
Monday, February 13, 2012
Crude Oil back above $100 - Again
Crude oil simply refuses to break down and is once again trading back above the $100 mark. What is perhaps even more concerning is that gasoline prices are now trading above the $3.00 point at the wholesale futures markets, and this is during the time of year in which gasoline demand is generally quite tame compared to the onset of the busy driving season later this spring and summer.
Should gasoline bulls be able to push price through the chart levels shown, it will portend a move back to the late summer highs of last year. As said in a previous post from last week - PAIN at the gasoline pump is now unavoidable.
Should gasoline bulls be able to push price through the chart levels shown, it will portend a move back to the late summer highs of last year. As said in a previous post from last week - PAIN at the gasoline pump is now unavoidable.
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How much longer before they start blaming the nefarious "evil speculators". LOL.
ReplyDeleteWhy Is Gasoline Consumption Tanking? (February 10, 2012)
ReplyDeletehttp://www.oftwominds.com/blogfeb12/gasoline-tanking02-12.html
A 47% drop in gasoline deliveries suggest that austerity has reached the US. How will refineries cope with this downsizing?
Will this trend continue?
This is the problem with the government reporting unaltered data, it is internally inconsistent with the theme of improving employment and economic recovery.
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