Oil service issues once again enjoyed investor attention, as gasoline inventories plunged to a two-month low.

That drove gasoline inventories to very low levels.

All told, gasoline inventories fell to 190.1 million barrels as of Friday, down 8.6 percent from the period a year earlier.

The key thing is the depletion of crude oil and gasoline inventories.

Gasoline futures prices shot higher on news that gasoline inventories had fallen.

Broadly speaking, the United States should have plenty of gasoline inventories to meet demand.

In addition, he said, "you had a large and somewhat unexpected buildup in gasoline inventories."

Overall gasoline inventories also fell, with demand usually strong for the colder months at 7.8 million barrels a day.

First, refining capacity and gasoline inventories are indeed tight and have become increasingly so for several years, outside experts say.

Some say that with gasoline inventories relatively high and an economy teetering on recession cutting into demand, prices might be stable until the spring.