Traders are determined to move prices up and yesterday's unmoved 9.7% jobless rate and the news that the previous four weeks' rate of consumption was 3% higher than the same time a year ago gave them all the news they need to raise crude above $81. It is now march and the Spring driving season is fast approaching and it is the busiest of the year. Gasoline prices have really climbed the past couple of weeks and what was $2.239 only 2 weeks ago is now $2.569 today. So far the numbers for sustained increases are unconvincing but this news is an onion revealing only so much after each layer is pealed.
Week to week comparisons, crude +$2.10 to $81.74, gasoline, the stunner, +18.93 cents to $2.2793. distillate 7.99 cents to $2.104.
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