I say stop the Bastards that are screwing our Economy. The means starting with CNBC for feeding the speculation.
I suggest the Oil traders bidding up the Commodities prices on this news should be Hung. Refinery Run rate down to 80.7% to make room for the summer Blend. But CNBC plays right to their hands by not reading the Facts. Goldman will doubled their Bonus this Year. Wednesday March 10 Government Report on Inventories. http://ir.eia.gov/wpsr/wpsr.txt
Summary of Weekly Petroleum Data for the Week Ending March 5, 2010
U.S. crude oil refinery inputs averaged 13.9 million barrels per day during the week ending March 5, 149 thousand barrels per day below the previous week's average. Refineries operated at 80.7 percent of their operable capacity last week. Gasoline production decreased last week, averaging 8.8 million barrels per day. Distillate fuel production decreased last week, averaging 3.7 million barrels per day. U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 1.4 million barrels from the previous week. At 343.0 million barrels, U.S. crude oil inventories are above the upper limit of the average range for this time of year. Total motor gasoline inventories decreased by 2.9 million barrels last week, and are above the upper limit of the average range. Distillate fuel inventories decreased by 2.2 million barrels, and are above the upper boundary of the average range for this time of year.
Over the last four weeks, motor gasoline demand has averaged 8.9 million barrels per day, up by 0.5 percent from the same period last year. Distillate fuel demand has averaged 3.7 million barrels per day over the last four weeks, down by 4.1 percent from the same period last year. Jet fuel demand is 6.3 percent lower over the last four weeks compared to the same four-week period last year.