September 11 Week Was Bad for Crude Oil and Refined Products
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US gasoline prices
Prompt gasoline futures traded on NYMEX closed ~3.40% lower on a weekly basis at ~$1.37 per gallon in the week ending September 11. Prices on Friday, September 4, 2015, were ~$1.42 per gallon.
US gasoline prices reflected crude oil prices. They mainly fell until Wednesday. On Thursday, crude oil prices spiked due to a combination of lower production numbers, higher YoY (year-over-year) gasoline demand for this time of the year, and a weaker dollar. The spike was also reflected in gasoline prices even as the summer driving season winds down.
Read to learn more about the latest gasoline inventory...