Supplies in the U.S. have been rising, leaving the market unsupportive of higher oil prices. Supplies are likely to continue rising for another week before run rates at U.S refineries come down and imports slow.
More Quotes from Makoto Takeda:
Given the intensity and the path of Katrina, damage to oil infrastructures in the Gulf of Mexico is forecast to be more serious than Ivan. With current production losses, the gasoline market will continue to be tight in the short run as summer driving season comes to an end.Makoto Takeda
Even considering higher demand, there's been a rapid growth in gasoline stockpiles.
Makoto Takeda
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Based on Topics: Running QuotesBased on Keywords: unsupportive
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