Crude Firms on Gasoline Demand

by George Belekos, KPI Bridge Oil
Wednesday August 2, 2017

Today's inventory report was not as bullish as expected but demand for gasoline was at a record level and permitted crude to regain half of yesterday's losses.

Crude stockpiles fell by 1.5 million barrels which was only about half the expected draw.

Refinery runs are still strong and operating at optimal levels as demand continues to pull crude figures lower.

Bunker prices were back to firming in the primary ports.

WTI Sept $49.59/BBL UP $0.43/BBL
Brent Sept $52.36/BBL UP $0.58/BBL