“The world remains oversupplied with crude oil, but the fact that it has become very oversupplied with gasoline is currently worrying the market. “The gasoline inventories are 10 percent above a year ago level, and that’s feeding back into crude,” said Greg Priddy, director of global energy at Eurasia Group. The real fear is that the demand for crude will drop even further once refineries go offline as they normally do in early fall for routine maintenance ahead of winter fuel refining.”
Source: cnbc.com
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