The market moved up significantly for crude and products today. The mix of good news and bad news together led traders to buy higher. The good news included a 1% increase in pending home sales and a 3.5% rise in manufacturing activity. The bad news were a refinery fire in Quebec and attacks on pipelines in Nigeria. For today, traders ignored the worldwide glut in crude. Tomorrow's EIA inventory report will determine market movement the rest of the week.
Today, crude +$2.42 to $76.86, gasoline +7 cents to $2.01, distillate +6 cents to $2.02.
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