[embeddoc url=”http://prima-markets.com/wp-content/uploads/2015/08/PRIMA-US-Weekly-Fuel-Data-19-August-2015.pdf” viewer=”google”]US gasoline demand remains extremely string even with the end of the US driving season fast approaching, this weeks DoE showed. Gasoline production is up 2.6% this week to a 1 year high of 10,248t bbl/d. This was accompanied by a draw in stocks of 1.3%.
Ethanol production remained at the same level of 965t bbl/d, after being up 0.4% last week. Demand was unable to keep up with this level of output, with stocks building 0.2% WoW.
Crude oil production dropped 0.5% to 9,348t bbl/d, with stocks building 2,620t bbl. US oil rig counts rose last Friday, despite the collapse in oil prices. A build in distillates stocks of 594t bbl, despite a fall in production of 1.5% again indicates softening demand.