SEPT 24 WEDNESDAY
SHORT TERM TREND : BULLISH
LONG TERM TREND : BEARISH
S1 RS 371 , S2 RS 368
R1 RS 378 , R2 RS 382
STAY LONG AT SUPPORT.
U.S. demand for gasoline continues to decline.
Motor fuel purchases dropped 7.6 percent from a year ago to
their lowest since January 2007, MasterCard Inc. said yesterday
in its weekly SpendingPulse report.
Motorist bought an average 8.276 million barrels of gasoline a day
in the week ended Sept. 19, down from 9.443 million barrels a
year earlier, the report said. It was the 22nd week of year-on-
year declines.
U.S. crude-oil and fuel inventories probably declined last week
because production platforms, refineries and ports along the
Gulf of Mexico were shut in the aftermath of hurricanes Gustav
and Ike, a Bloomberg News survey of analysts showed.
Gasoline stockpiles probably declined 3.6 million barrels from
184.6 million barrels the week before, the survey showed.
U.S. energy producers have resumed output for about 33 percent
of oil and 38 percent of natural-gas production in the Gulf of
Mexico after storms in the region.
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