The oil market has one big problem: People aren't buying enough gas

[Yo_Mama_Been_Loggin]

Lackluster gasoline demand is once again raising concerns that the oil market won't be able to escape the doldrums.

Demand for U.S. gasoline has recovered since January, but remained below 2016 levels throughout much of this year. Now, analysts are worried weak consumption will cause gasoline stockpiles to keep building and eventually result in weaker crude oil demand and pricing.

U.S. gasoline futures (@RB.1) were down more than 1 percent on Monday, reflecting demand concerns as refiners emerge from the winter maintenance season and prepare to turn out more fuel. Meanwhile, U.S. crude (@CL.1) settled 39 cents lower at $49.23, extending last week's deep losses.

"As gas prices drop, that creates an undertow for the entire crude oil market," said Tom Kloza, global head of energy analysis at Oil Price Information Service.

https://www.msn.com/en-us/money/markets/the-oil-market-has-one-big-problem-people-arent-buying-enough-gas/ar-BBAhsk2?li=BBnbfcN&ocid=edgsp

Maybe that's why Drumpf wants to get rid of gas mileage standards

[democratisphere]

1. Nailed it!

So why are the gas prices up?
Answer: Cause Wall Street and Corporate America have stolen the WH.

[Hassin Bin Sober]

2. I'm still seeing $3 dollar gas here in Chicago

[Egnever]

3. Of course that is why

What other reason for there be?

[miyazaki]

4. Like someone posted here before, time for another refinery accident. n/t