Jim Ritterbusch Gas Quotations

The main feature was the big gasoline drop again. That's going to support the entire complex.

We are seeing a small deficit in gasoline supplies, and there is some concern that the heavy refinery maintenance schedule set for the end of the quarter is going to affect supplies.

But they do provide evidence that the oil infrastructure can bounce back pretty quickly after a really bad storm. These gasoline numbers give a cushion.

High prices are eating into consumer demand, and the focus is on gasoline because of the upcoming driving season.

It's easy to analyze this one because there is only one number to talk about. That gasoline build was just huge again.

The gasoline figure was the important number, the decline was much larger than expected.

The gasoline draw is a bullish number, without doubt. The decline was much bigger than the 1.1 million barrels draw the Street was anticipating,

A source of support to the screen appears to be indications of increased refinery maintenance that should prove capable of reversing a dramatic 23-mil bbl up-trend in gasoline stocks during the past seven weeks. Production declines should also be driven by some slippage in gasoline yields.

This report is completely overshadowed by the storm. We did see a draw in gasoline stocks, and even though it's slight it isn't what this market needed,

Crude supply is no longer an issue. We have plenty of it. However, that crude number is being countered to some extent by the large decline in gasoline stocks.

The funds are really scrambling to build a larger position in the long gasoline crack spreads.

The fundamentals across most of the complex are so bearish that on any given day you're either going to need to a lead from gasoline or some bullish geopolitical headlines to give this market a rally. Otherwise it's just going to sink.

The problem with sufficient refinery capacity to produce gasoline still presents an issue, at least within the US.