Crude's futures market price is falling in small steps this week as NYMEX fell $0.72 even though the dollar dropped. What concerned analysts today was the downward revision of economic growth forecast in 4Q 2009 to 5.6% from 5.9%. The increase in inventory and the drop in gasoline demand also helped to bring prices down. European governments now seem willing to work with the IMF to subsidize Greece's labor force and are working on a bailout plan. So far no one is mentioning any possible effect of the attack by the North Koreans on a South Korean vessel causing significant casualties.
Today, crude -$0.72 to$79.85, gasoline -1.14 cents to $2.20, distillate +0.14 cents to $2.0662.
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