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Friday, July 21, 2006

Traders Getting Fired Up Over Gasoline Futures

Traders getting fired up over Gasoline futures: Gasoline futures bucked the recent trend of lower energy prices yesterday, as Valero Energy announced the shutdown of the Gasoline producing unit at its St. Charles refinery in Norco, Louisiana. Any supply disruptions will get traders attention, especially in the midst of the summer driving season in the US. According to the U.S. Department of Energy, Gasoline demand for the four-week period ending July 14th rose to 9.6 million barrels a day, up nearly 2% from the same period last year. The rise comes despite record high retail Gasoline prices this summer. It appears that even $3 plus for a gallon of Gasoline will not stop most Americans from taking to the roads this summer. Read More....