Market Forward: Seven Days in Oil

Oil prices have picked up once again, hitting $63.99. U.S. stocks fell surprisingly. Crude was expected to build, by 2.5 million barrels, but it fell, alongside gasoline. Gasoline was expected to rise as refinery maintenance upped the price. It's that simple, less capacity, it costs more.

Gasoline was expected to draw by 1.2 million barrels instead it drew by 2.3 million barrels. This has pushed the price up month on month in the U.S., by 11.8%. The fastest rise it has had since September and of course you should remember why that was, Katrina - the storm that destroyed a major American city, near enough.

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