U.S. Energy Weekly Oil Numbers: Analyst Says Gas Prices Going Higher

This morning--the U.S. Energy Department released the weekly oil numbers:

Crude inventories - down 0.3 million barrels

Gasoline inventories - down 0.6 million barrels

Distillates (which includes heating oil) - down 1.0 million barrels

The decline snaps a five-week string of increases.

According to Bruno Stanziale-- Director in the Commodities Trading Group at Societe Generale, prices are going higher. The reason - lower inventories combined with a cold snap forecast for the Northeast.

Stanziale says this bullish scenario paints the classic example of "what's good for Wall Street isn't always good for "Main Street."

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