•IPE
Brent crude in London edged lower off gains made Tuesday as funds liquidated
some positions ahead of anticipated bullish US energy department stock data
out later Wednesday, traders said.
•An expected draw in gasoline stocks
in US DoE inventory report, coupled with refinery maintenance and shutdowns,
has boosted unleaded gasoline prices as the US driving season approaches.
•When
refineries are back on line, US crude stocks are expected to decline as
production is ramped up to meet gasoline demand and correct the imbalance in
gasoline stocks, traders said. •The
DoE and American Petroleum Institute inventory data figures are expected to
reveal a draw of 975,000 barrels in unleaded gasoline stocks and a 1.5
million barrel drop in distillate inventories.Copyright © 2005 - Platts
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