Gasoline supplied was the most important figure in the release
Gasoline supplied was the most important figure in the release: Tyler Richey, co-editor of Sevens Report Research, Quoted in MarketWatch
Oil futures trade lower as U.S. crude supplies unexpectedly rise
Gasoline supplied was “the most important figure in the release as it is a key, high-frequency proxy for consumer gasoline demand and ultimately consumer sentiment and a gauge on general willingness to spend discretionary money,” said Tyler Richey, co-editor at Sevens Report Research. The EIA reported that gasoline supplied surged by 439,000 barrels per day to 9.315 million bpd last week, a fresh year-to-date high and the highest reading since early November of last year, he said.
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