Saudi Arabia says new oil cuts show teamwork with Russia is strong

https://www.reuters.com/business/energy/saudi-arabia-says-new-oil-cuts-show-teamwork-with-russia-is-strong-2023-07-05/

Weekly US ending stocks of crude oil.

https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=WCRSTUS1&f=W

        Weekly ending stocks for unleaded gasoline. 

https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=WGTSTUS1&f=W

          Weekly US ending stocks for distillate fuel oil(heating oil-especially used in the Northeast).  

https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=WDISTUS1&f=W

++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++

https://www.seasonalcharts.com/classics_rohoel.html

Here are the latest gas prices across the country:

https://www.gasbuddy.com/GasPriceMap?z=4&lng=-96.591588&lat=38.10118167223963

Why are west coast gasoline prices higher?

https://www.quora.com/Why-are-west-coast-gasoline-prices-higher

The two main reasons are transportation and taxes. Part of the cost of gasoline is what it costs to take refined product and transport it to the end user. Below is a map of the main refineries and pipeline in North America.

You can see that the west coast has a much smaller amount of infrastructure than other parts of the map. As a result, more of your gasoline is refined in places that require it to be shipped by transportation.

The second reason is that the states on the West Coast have used fuel taxes more than the average.

If you add to that state requirements about how the gasoline is blended based on the various state environmental air quality and emissions standards, you can tweak the price again. The addition of MTBE or ethanol seasonally, further adds cost to a gallon.

Both coasts tax their gasoline beyond the norm. Add to that in California they require 2 to 3 times as many fuel mixes as any other state which increases the cost again.                 

After selling for much of 2 years, big funds have taken to buying/the long side the last month.

FTC Crude Oil speculative net positions

https://www.investing.com/economic-calendar/cftc-crude-oil-speculative-positions-1653

+++++++++++++++++++++++++++

Oil rig count:

https://ycharts.com/indicators/us_oil_rotary_rigs

1. 1 year-steady drop this year..........negative for future production

2. 5 years

I can't get longer than that for free.

Latest gas prices below:

Gas Price Map

https://www.gasbuddy.com/gaspricemap?lat=38.822395&lng=-96.591588&z=4

I filled up in Owensboro, KY yesterday at a Kroger gas station for $3.29/gal. It's 20-30c higher here in Evansville, IN.