For the 4 consecutive trading session crude fell as has gasoline but distillate rose a penny today. Disappointing news on unemployment and retail sales are dampening the economic outlook and making economic and petroleum demand forecasts bearish. the seemingly sideways trading from yesterday was complicated because today was the last day to trade options and a lot of traders traded at $80. The next couple of days should be interesting.
Today, crude -$0.52 to $79.20, gasoline +1.04 cents to $2.0704, distillate -1.5 cents to $2.0784.
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