US DATA: American Petroleum Institute reports U.S. petroleum
deliveries for Feb rebounded by 0.6% from Jan. With the exception of jet
fuel, all major petroleum products experienced increases from Jan to
Feb. February’s gasoline demand (+2.2%) was the highest monthly demand
for any February. However, key indicators of economic conditions –
demand for distillate fuel (-6.0%) and jet fuel (-4.1%) — were still
below year ago levels. On a year-to-date basis, for February 2010, total
deliveries were -1.7% compared with last year. Crude inventories for
February 2010 inched up for the second month in a row – +1.9% vs. Jan at
339.9 million barrels.