| Latest crude rally sputters, but seeds of eventual recovery have been planted by severe cuts to investment. Blastoff aborted. It seems to have been a fuel problem this time. Now two years into a bear market, oil prices have failed to sustain a major rally once again.
Rather than a further slide in demand, overzealous refiners are the likely cause. U.S. inventories of gasoline and distillates are nearly 10% and 6% higher than year-ago levels, respectively. Meanwhile, spring supply disruptions in Canada, Nigeria and elsewhere have lessened...............................................Full Article: Source
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