Gasoline Breaks Out Despite EIA Forecast of Lower Brent Prices

The driving season in the United States kicked off on Memorial Day and it appears that demand is holding up despite the recent tick up in prices.  Over the past month gasoline demand averaged 9.4 million barrels per day, up by 3.8% from the same period last year.  With production likely to continue to increase gradually, the questions remain about the sustainability of gasoline…