Technical analysis pushed crude prices above $80 yesterday and the view was not as good at that price and so fundamental analysis led the price down today. Tomorrow the ultimate in fundamental analysis comes out with the publication of industry inventory.
The dollar did get stronger but the refinery worker strike in France is close to resolution. The release of the consumer confidence index led many traders to believe that demand will continue to be lower than expected.
Today, crude -$1.27 to $78.86, gasoline -5.3 cents to $2.065, distillate -4.99 cents to $2.0318.
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