Posted in: Infrastructure,
by Patrick DeHaan on Dec 7, 2010 02:52 PM
With the brunt of winter getting closer and closer, more refineries appear to have completed maintenance and are beginning to restart their facilities.
Perhaps the timing is that margins have improved recently, or perhaps its just convenient timing, but some refiners have made public that their plants are restarting production, something that could help pressure prices lower.
As of this afternoon, gasoline futures were lower in all regions east of the Rockies, with the largest price drops occurring in the New York market as refiners there boost output after large drops in supply because of plant maintenance.
With tomorrow's DOE report, I expect an increase in refinery utilization. If we see a surprise decrease in utilization, be prepared to see an additional increase in gasoline futures.