Increase in Petroleum Deliveries Signals Stronger Economy

A good friend and one of the best energy hedge fund managers sent this over this morning. It is from Downstream Today.com,

Total U.S. petroleum deliveries (a measure of demand) increased 6.5 percent in November compared with November 2009, evidence the nation’s consumer and industrial sectors are recovering, according to API’s Monthly Statistical Report. The step-up in fuel demand represented the largest year-to-year increase for any month in 2010..

“Fuel demand continues to strengthen, a positive sign for our economy. Gasoline deliveries are up three months in a row and distillate deliveries are up 10 months in a row over the same months in 2009,” said API chief economist John Felmy. “Stronger fuel demand tells us a recovery is underway.

 

 

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