MasterCard SpendingPulse has been publishing weekly retail gasoline purchase data on a weekly basis since August in an effort to nail down actual American fuel consumption in a timely way.
Now it looks like the data could be used in predicting U.S. gasoline inventories as reported by the U.S. Energy Information Administration — a key headline for energy traders. The graph seems to show a negative correlation between SpendingPulse gasoline purchases and EIA gasoline inventories with two-week lag, though the relationship vanishes when U.S. refiners hit the brakes.
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Oil speculators have little to no impact on actual gasoline prices. Check this to find out why:
http://beyondthemargin.blogspot.com/2008 /06/do-speculators-cause-oil-price.html
- Posted by RJ