US Gasoline Inventories Plunging On Surging Exports, Resilient Demand

US Gasoline Inventories Plunging On Surging Exports, Resilient Demand Prompt Brent/WTI crude nearby futures increased by 5/7% week-over-week to $105/101 as flows through the Strait of Hormuz remained very low and on limited signs of progress on a US-Iran deal. Meanwhile, as global oil inventories collapse at a record pace yet sliding Chinese demand and strategic releases from Beijing keep crude prices relatively stable, Goldman writes that the US gasoline market has become ve...

By Tyler Durden