may production data, page-33

Hi MDC,

For every bullish report there is a bearish report....


"Despite that bullish indicator, it was the gasoline and distillate numbers that caught traders' attention. The EIA reported gasoline inventories rose by 2.76 million barrels compared with analyst expectations of a 300,000-barrel draw. And in another bearish tilt, U.S. distillate stocks rose by 3.1 million compared with an expected draw of 100,000 barrels.

Analyst Stephen Schork characterized the inventory report as "pretty bearish," in part because of the increases in the refined product inventory and in part because it pointed to a drop in gasoline demand during the Independence Day holiday, normally a busy period for motorists"



About the only thing we can be sure of is that it will change daily. Has there ever been a day when oil price has not moved (a day when the market is open of course).