Update: A Year of Volatility Oil Markets and Gasoline
Retail Product Prices Driven by Crude
Gasoline Prices in Inflation-Adjusted Terms
Crude Oil Prices High But May Relax Some By Year’s End
EIA OPEC Production Assumption Projects Increasing Leakage
Supply/Demand Forecasts Leave Little Room for Winter Drawdown
Price Volatility Will Remain Until Inventories Rebuild
Low Stocks Mean Tight Markets
Tight Markets Lead to High Gasoline Spreads
MidWest RFG Price Rose Quickly
Midwest RFG Production Somewhat Low
Midwest Conventional Stocks Very Low; RFG Not As Extreme
Regional Inventories Low
Midwest RFG Is Small Fraction Of Market & Is “Unique” Blend
While Gasoline Has the Limelight, Distillate Is Being Watched
Natural Gas Supply Concerns Driving Up Prices
Conclusion: Volatile Prices Likely in the Year Ahead
Email: jshore@eia.doe.gov
Home Page: www.eia.doe.gov
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