July 30, 2009

Traders were quick to shrug off yesterday's bearish inventory numbers and continued soft demand and opt instead on hope of future economic recovery. Crude up $3.33 while gasoline was up 9.65 cents and distillate rose 9.1 cents. Street prices will really be confusing.

July 29,2009

Prices for product and crude dropped overnight and stayed below yesterday's closings after the inventory numbers were announced. Price decreases since last Friday's close are significant for crude and distillate, 7%, and barely noticeable for gasoline, 2%.

July 28,2009

The dollar led crude to fall almost a dollar while supply news caused product prices to fall. Street prices in Jonesboro rose 6 cents as the price increases of last week finally reached street level. Inventory report tomorrow should give a more definitive trend for the rest of the week.

Welcome to MacPetro

I am Jim McDonald. I have been a petroleum marketer for over twenty years in domestic and international markets. I have retail and wholesale experience.

My goal is to give a marketer's view of the petroleum markets and the greater energy questions.

Please check back frequently and feel free to contact me with any questions and comments.

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Sincerely,
Jim McDonald