Another sideways trading day as fears that China would have to tighten credit to counter inflation came to the fore. Many traders misinterpreted yesterday's less than expected inventory increases which were due to refinery retooling rather than increased demand. Refiners are gearing up for the greater demand for gasoline and decreased demand for distillate.
Today, crude +$0.01 to $81.88, gasoline -0.99 cents, distillate +0.03 cents to $2.1141. Street prices at $2.659.
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