After increasing the previous week at the largest rate in six weeks, week-on-week gas supplied to the U.S. market declined for the third time in four weeks.
The latest data from the U.S. Energy Information Administration (EIA) showed gasoline consumption was down for the week ending July 31. The result comes after an increase for the week ending July 24. The prior two weeks, ending July 10 and July 17, included back-to-back declines compared to the previous week.
While the increase for the week ending July 24 offered hope that the recent resurgence of coronavirus cases wouldn’t create a longer-term