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Gasoline Inventories Could Extend WTI’s Rally

Gordon Kristopher
Gasoline Inventories Could Extend WTI’s Rally

The API (American Petroleum Institute) released its weekly US gasoline inventory data yesterday, reporting that US gasoline inventories fell ~1.6 MMbbls (million barrels) between June 29 and July 6. Meanwhile, Reuters estimates that US gasoline inventories fell ~0.75 MMbbls. In early morning trading today, US gasoline gas futures fell 0.5%.