Equities rebounded and the tanker collision in the Sabine Waterway inclined traders to buy higher today but only barely. Demand is still perceived as not to the level of even last year and supplies are plentiful. Traders are loathe to be holding expensive paper when demand is unlikely to increase.
Today, crude +$0.51 to $75.05, gasoline +2.74 cents to $1.9963, distillate +1.95 cents to $1.9595. Best street price today was $2.349, the lowest price in over a month.
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