"I want to wait, to hear from (EU foreign policy envoy)
Javier Solana first hand about how he sees the situation, but certainly the
indications are that Iran's response has been disappointing and incomplete."
-US Secretary of State
Condoleezza Rice told reporters ahead of a meeting of world powers in Paris, in
reference to Iran's response to a Western offer aimed at resolving the standoff
over its nuclear program.
"The normal post-Fourth of July dip in gasoline
deliveries plus the effects of Europe's renewed heavy gasoline export programs
(reported to be 850,000 b/d for the first ten days of July) should give gasoline
an even bigger build in Wednesday's statistics. It scarcely seems to matter;
strong demand rules the roost."
Deborah White, energy
analyst at Societe Generale, said in a report ahead of the latest round of US
oil inventory data where analysts were projecting a build in gasoline stocks of
1.5 million barrels.
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