It was all about the dollar's strong showing today. The continuing Greece problem and the fall of equities also led to more investment in the dollar and thus a fall in commodities. All measures of demand remain weak worldwide. Eyes are now turned to what kind of inventory reports come out next week.
It seems, however, that there may be problems with the way data is gathered by the EIA and released mid-week every week. More people trust the EIA data than that released by API but with today's revelation of data problems the markets will have to adjust how it views those reports.
Another volatile week that saw both a significant rise and a significant fall but week to week prices were not that far off from each other. For the week, crude -$0.69 to $80.55, gasoline +0.18 cents, distillate -2.18 cents to $2.0742.
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