Here it comes, the yearly "Seasonal Maintenance" bullshit that we pay extra for and take it. Plus Oil back over $100
No doubt gas will not only be over $4 but I'm sure will surpass $5 and head towards $6
Not sure why the Oil Thug supporters don't like that I am always right, they obviously make more money personally when it goes so high.
2-7-2014
http://www.bloomberg.com/news/2014-...ain-since-december-on-repairs.html?cmpid=yhoo
Gasoline Heads for Biggest Weekly Gain Since December on Repairs
Gasoline futures headed for the biggest gain in seven weeks on speculation seasonal maintenance will tighten supply.
Prices increased as much as 1.3 percent. An average of 1.6 million barrels a day of U.S. refining capacity will be offline in February for planned and unplanned work, according to Amrita Sen, chief oil market strategist at Energy Aspects Ltd., a research company in
London.
Another 1.4 million barrels in March and 850,000 barrels in April are scheduled to shut for turnarounds.
Youve got a lot of maintenance now, the economy has been showing improvement and people are anticipating a strong summer, Sen said.
Futures prices have climbed an average of 4.3 percent in February and 10 percent in March during the past five years, according to Nymex data compiled by Bloomberg.
Phillips 66 is performing scheduled work at its Alliance plant in
Louisiana, according to the company. Citgo Petroleum Corp. began shutting both plants at its Corpus Christi, Texas,
refinery on Feb. 5 for about 35 days of planned work, a person with knowledge of the work said yesterday.
People are plowing into gasoline and out of heating oil, looking ahead to gasoline season, said
Andy Lipow, president of Lipow Oil Associates LLC in Houston. Clearly, were seeing more length coming into the gasoline market.
http://www.marketwatch.com/story/oi...y-us-jobs-report-2014-02-07?amp;siteid=yhoof2
Oil briefly tops $100, gains 2.5% on week
Oil futures rallied on Friday, tacking on nearly 3% for the week after briefly topping $100 a barrel shortly before the close of the trading session on the New York Mercantile Exchange.
The spring refinery maintenance period typically begins in February, reducing production capacity for petroleum products.