Deepening Gasoline Glut Pushes Oil to a Five-Month Low

5 May 2017   USA

U.S. refiners are flooding the market with gasoline, intensifying oil prices’ spring decline. Refiners are turning crude oil into gasoline and diesel at the highest rate in at least 34 years, according to data from the U.S. Energy Information Administration. One reason: The spread between what it costs refiners to buy crude and the price…

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