Today is the 1277th anniversary of the Battle of Tours. Charlemagne's grandfather, Charles the Hammer and an army he raised by confiscating church property, defeated the army of the Umayyad emir of Al-Andalus, Abdul Rahman. The Hammer followed up with two campaigns that drove the Umayyads out of the Frankish lands for good by 739. As with the battle of Lepanto that occurred 832 years later, the winning army was greatly outnumbered, perhaps 3 to 1.
Back to today's news, crude fell 85 cents or 1.2% from yesterday's close but still gained 2.1% over last Friday's close. Distillate dropped half a penny and gasoline decreased 2.21 cents. The dollar's strength was blamed for crude's slight decline. Street prices only fell 3 cents this week, likely reflecting the fact that prices are artificially low in this sub-market.
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