RE:RE:Crude to collapse? Eventually! Yrmac, in this paranoid environment oil will go up at any negative report. That being said there are legitimate concerns particularly in the South where I live.
Even though we have the bulk of many refineries down here a lot of oil is still moved by coastal tankers, particularly to Florida. The system is heavily strained at present and will collapse even in a bad storm. We could have $10 gas by July 4th in certain areas of the US.
To think just a few years ago we took a drive to Mississippi and filled at at a Shell refinery there like for a $1 per gal and a few pennies!