Oil Markets Stable Despite Major Pipeline Outage

While the Colonial pipeline outage appears to have been resolved and there is enough gasoline to go around, panic buying has caused gasoline shortages in some areas on the East Coast. Chart of the Week-    U.S. natural gas production posted the largest monthly decline on record in February, according to recent EIA data.-    Production averaged 104.8 Bcf/d, an 8.1 Bcf/d decline (7%) from January.-    Texas accounted for a 4.3-Bcf/d decline, the largest on record.  Market Movers-    The…