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Meanwhile, keep watching for shortage reports, because we should start seeing some sneak in this week, if our doom-o-meter is calibrated correctly.

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Oil Rises, Gasoline Surges to a Record as Fuel Supplies Decline

ntbktrader writes: March 31 (Bloomberg) -- Crude oil rose and gasoline and heating-oil surged to records on signs that U.S. refineries lack capacity to make enough fuel and Goldman Sachs Group Inc. analysts predicted that oil could touch $105 a barrel.

``Concern is growing that there will barely be enough fuel to meet growing global demand,'' said Michael Fitzpatrick, vice president of energy risk management at Fimat USA in New York. ``The world had cheap oil for years and the chickens are coming home to roost. Investment was deferred and China and India are now major users, which isn't going to change.''

Bloomberg

Posted on Thursday, March 31 @ 13:10:28 PST by MarkL

Most read story about Consumption; Demand; Prices:
Forget About Cheap Oil

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Re: Oil Rises, Gasoline Surges to a Record as Fuel Supplies Decline (Score: 1)
by hamburg59 on Thursday, June 01 @ 07:21:42 PDT
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