Demand is down so much that US fuel consumption in January was the lowest of the past 12 years. The raising of interest rates by the Federal Reserve today changed the dynamics of the market and crude stayed above $79. The French refinery strike was also worrying traders who are thinking that imports could be constricted.
Today, crude +$0.49 to $79.51, gasoline +1.51 cents to $2.0851, distillate +0.96 cents to $2.0626. Street gasoline price is up from a couple of days ago to $2.309.
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