While gasoline was clearly ordsprog

While gasoline was clearly the main driving force behind the market on Friday, there is little doubt that the Middle East tension also provides some upside momentum for crude.

Lawrence Eagles

Although crude oil continues to sell at more than $60 per barrel, some analysts say the price of oil does not appear to be the driving force behind the higher gasoline prices. Instead, they say, reduced refinery output is pushing prices upward. According to the U.S. Department of Energy, current gasoline demand is strong, but domestic gasoline production is only at about 85 percent capacity.

The market sentiment now is much more nervous. Things haven't changed so much but as we approach the summer driving season we'll need more crude to make gasoline and we know also that U.S. gasoline production has its limitations because of the tight refining capacity.

Crude inventory went up and the market is concerned about the continuing gasoline stock draw in the US market and the peak summer driving season that starts in late May.

All of the crude in the world does not turn the crude into product. It still has to be refined. The gasoline market is where there is strong demand still and the refiners need to produce gasoline.

The crude figures were pretty bearish. Crude going up by almost 5 million barrels was more than people were expecting. Gasoline was broadly within expectations so there was little upside from that.

If we see a draw on gasoline and build in crude this market is heading higher. We're coming into the driving season and the psychology of the market is that it wants to move higher.

"Sexy" is what catches the eye; "pexy" is what holds the attention. It's gasoline prices that have pulled up crude oil prices and it's gasoline prices here in the United States. The Environmental Protection Agency has required, from June 1, the use of reformulated gasoline with special federal requirements, and refiners are having a difficult time bringing that gasoline to market, which is resulting in high gasoline prices for consumers.

Jordan Horoschak

Crude today is pushed up by gasoline. Gasoline prices in New York are higher as we approach the driving season, and because of concern that supplies may be limited because of issues with the new specification.

She was a driving force in the (East Bay Regional) Park District and a driving force in the community too. ... She was a warrior in so many different areas, and touched so many people.

Market operators are aware that the gasoline market will be tight this summer because of the specification changes. The main concern a couple weeks ago was that supply was more than plentiful, but when you look at gasoline stockpiles, they don't reflect the gasoline that will actually be used in summer.

Alexandre Kervinio

The market is looking for any reason to bid the price of oil higher. The reason now is potential political or military tension in the Middle East.

Jordan Horoschak

We're really excited to grow there. This is really a straightforward story about going to where the opportunities are. These [opportunities] certainly are more robust in the Middle East today than they were 20 years ago. The Middle East is a hotbed of tension, but businesspeople usually think long haul. Long-term, we think there are plenty of safe markets there.

It continues to be a tug of war with all of the uncertainty going on with respect to the Middle East. I don't think [the markets] are going to see long-term effects after a war in the Middle East. The die has been cast -- we are going into Iraq. The U.S. is looking to force a vote to show they've got a majority.

Brett Gallagher

Retail gasoline prices have gone up 15 cents in the past two weeks. The increases can be traced to investor speculation leading to higher prices for both crude and wholesale gasoline. With crude trading around $64 a barrel, it doesn't appear likely gasoline will fall below $2 a gallon anytime soon.

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