Given the imminent re-opening of America’s economy and the start of peak driving season in coming weeks, US gasoline demand will jump from historically depressed levels and may exceed EIA forecasts if miles driven this summer deliver an upside surprise. If refiners continue to throttle output, as they have been doing recently, gasoline inventories could fall faster than anticipated, driving prices higher in the process.
Related ETF: United States Gasoline Fund, LP (UGA)
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