I wonder if in a short while, it will be discovered that even during the Memorial Day weekend, there wasn’t as much driving done as expected and that could have gasoline and oil inventories at those somewhat higher levels, thus correcting the prices.
I understand supply and demand but this is straight up greed. It doesn’t cost drillers $120/ barrel to get it out of the ground. They were making money at $40 / barrel. The oil companies are making a killing.