Monday, January 4, 2010

January 4, 2009

Crude closed at its highest level in over 14 months due to very cold weather, the perception that economies around the world are improving, and falling stockpiles of distillate. Demand remains relatively weak and supplies will be lower throughout the next month or a little longer as refineries undergo annual maintenance. The weakening dollar also help to amplify crude's ascension.

For the day, crude +$1.66 to $81.49, gasoline +4.34 cents to $2.1064, distillate +5.98 cents to $2.1833.

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