1. Analysts expect that U.S. inventories of gasoline fell last week ahead of the Memorial Day holiday that traditionally marks the beginning of the summer driving season. 2. Analysts surveyed by Bloomberg News expected crude oil inventories fell last week as refiners conducted year-end inventory reductions for tax purposes. 3. And traders expect the API to report later today that inventories fell again last week as retailers stocked up for the Easter holiday weekend. 4. API Weekly crude oil inventories have fallen only five times this year, according to the API. 5. As inventories fell, prices jumped. 6. As inventories fell, he said, the prices rose. 7. All nine analysts surveyed by Bloomberg News said they expect gasoline inventories fell last week while distillate fuel inventories, including heating oil, rose. 8. Also, inventories fell for the fourth straight month, providing another sign that the outlook for manufacturing may be getting slightly better. 9. But as the death rate accelerated, and inventories fell, retailers say they had no choice but to pass higher costs on to customers. 10. Coffee fell after a report that U.S. inventories fell less than expected. |