Prices going up almost everyday and we have a huge surplus of oil with demand down to 1997 levels..

Very interesting..



NEW YORK, Feb 23 (Reuters) - Total U.S. four-week
average demand for refined products fell to the lowest level
since April 1997, data from the U.S. Energy information
Administration showed on Thursday.
The four-week average demand for refined products like
gasoline and distillates fell to 18.05 million barrels-per-day
(bpd), 6.7 percent lower than a year ago.
Four-week average gasoline demand fell 6.1 percent compared
with a year ago while distillate demand was 5.9 percent lower
than during the same week last year, according to the data.
Meanwhile, crude inventories were at the highest level since
Sep. 2001, rising 1.63 million barrels to 340.71 million
barrels, EIA said.
Midwest refinery utilization rose 3 percentage points to 96
percent of capacity.

http://af.reuters.com/article/energyOilNews/idAFL2E8DN6Z720120223/