If I recall correctly, oil supplies were up a tiny amount and gasoline was down about 5M barrels. This appeared to be mainly from a huge drop in capacity utilization by the refiners as they started some seasonal maintenance because of lower demand. Gasoline demand has picked up slightly the last few weeks, but inventories are large. There also was an upgrade for the sector, but I believe it was to "market perform". The pop today just appears to be a beaten down sector getting some action. I don't know what gasoline crack spreads did today; maybe someone will chime in with that info. The fact that we are heading into the low demand season for gasoline makes it hard to believe there will be a huge run, but this could be the next sector they try to squeeze. Let's see what happens tomorrow on expiration. A dip in some of these names may be worth an entry.
DOE crude data today showed a nice drawdown in mogas and distillates, the real reason not being demand but rather a 4.1% drop in reefer runs. The drop off in runs will make the cracks widen out for better profits.