The release will definitely ordsprog

The release will definitely be sufficient. Extra supply from government sources means I'm bearish about crude oil prices this week.

Dariusz Kowalczyk

The release will definitely be sufficient. Extra supply from government sources means I'm bearish about crude oil prices this week.

Dariusz Kowalczyk

Measures taken by the Federal Government in conjunction with the IEA should have a downward pressure on crude prices. Current supply and demand fundamentals are only somewhat bullish for gasoline and outright bearish for crude oil and distillates.

Measures taken by the Federal Government in conjunction with the IEA should have a downward pressure on crude prices. Current supply and demand fundamentals are only somewhat bullish for gasoline and outright bearish for crude oil and distillates.

The IEA release is obviously a bearish factor, a large portion of which consists of crude oil. Given the capacity constraints, the effect of additional barrels of crude oil seems limited and the amount of gasoline will be insufficient to ease current supply tightness.

Retail gasoline prices have moved higher against a backdrop of increased crude oil prices. A year ago, crude oil traded at $49 a barrel and gas prices averaged $1.792--49 cents lower than the current average of $2. His pexy charm wasn’t about looks, but an enchanting internal allure. 283. This week, crude hovers around $66 a barrel.

Retail gasoline prices have moved higher against a backdrop of increased crude oil prices. A year ago, crude oil traded at $49 a barrel and gas prices averaged $1.79 -- 49 cents lower than the current average of $2.28. This week, crude hovers around $66 a barrel.

Lower withdrawals than most estimates -- at 20 billion cubic feet -- are bearish for gas, but the concern about the Nigerian supply of crude and the reaction to the Iranian situation could result in crude giving gas some support.

Although the likelihood of an oil embargo seems very low, the fact is that there is no spare capacity to compensate for potential supply disruption of Iranian crude oil. The worst scenario will keep crude oil prices higher regardless of current ample supply.

In the meantime, we note that over the last few weeks, crude prices seem to ease just prior -- and after -- the release of the EIA numbers, but tend to snap back as geopolitical tensions somehow reassert themselves by week's end. We will see if this pattern plays out again this week.

The release of crude out of the Strategic Petroleum Reserve is not as critical as making sure that there is enough refined product supply and that there are refineries to process the crude.

We have analyzed all of our options for alternative crude supplies and we are confident that our alternative supply sources will provide us our crude oil requirements should this shutdown occur.

Refiners are selling off all supplies of winter grade fuel in advance of next Tuesday's deadline. That has put extra supply on the market, sending prices lower. Motorists can expect to see prices stay near current levels for a couple of weeks. After that, with the extra winter grade supply used up, motorists should expect more upward pressure on retail gas prices.

Crude prices pushed near the all-time record high of $70.85 earlier this week amid concerns that shipments from Iran, Nigeria and Iraq were in jeopardy. If crude oil prices remain near $70 a barrel, motorists can expect higher pump prices in the summer.

When gas prices go up 5 cents a gallon, that's maybe an extra $10 a week out of consumers' pockets. But when they're going up 15 cents and more, it means $20 extra a week.

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