US Gas consumption drops 2nd month in a row
http://www.reuters.com/article/marketsNews/idUSN1736453520080617
According to Mastercard
"U.S. retail gasoline demand year-to-date fell 1.96 percent from the same time last year as prices for the fuel rose above $4 per gallon, MasterCard Advisors said Tuesday.
'The regional year-over-year view shows all regions are consuming less gasoline when compared to a similar week in 2007," said Michael McNamara, vice president of MasterCard Advisors.'"
This is a 210K bpd drop. Couple this with increases in supply and likely drops in demand elsewhere, and we will see a 1M bpd gap again by Summer's end. Hence, we bought DUG.
"The four-week moving average for retail gasoline demand was also down 4.3 percent, the eighteenth consecutive week that it has shown a decrease"
According to Mastercard
"U.S. retail gasoline demand year-to-date fell 1.96 percent from the same time last year as prices for the fuel rose above $4 per gallon, MasterCard Advisors said Tuesday.
'The regional year-over-year view shows all regions are consuming less gasoline when compared to a similar week in 2007," said Michael McNamara, vice president of MasterCard Advisors.'"
This is a 210K bpd drop. Couple this with increases in supply and likely drops in demand elsewhere, and we will see a 1M bpd gap again by Summer's end. Hence, we bought DUG.
"The four-week moving average for retail gasoline demand was also down 4.3 percent, the eighteenth consecutive week that it has shown a decrease"
posted by Andrew at
9:41 PM
2 Comments:
HI Andrew,
In one of the blogs, I came across DOT. It might be better than DUG to play this irrational OIL prices. DUG has all the OIL equipment and Natual Gas comapanies, which are still in bull phase.
-RK
Don't go negative on NG - in fact, I am making buys in NG.
DUG is more oil related. I am counting on a short term price softening as the supply/demand gap widens somewhat.
Lets not forget that Iraq is able to produce millions more bpd
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