Crude rose in trading today despite the continued grounding of airplanes in Europe that leaves airports awash in jet fuel. The dollar also climbed higher today and normally that would signal a fall for crude but both dollar and crude rose. And most telling about the bullish exuberance of today's trading, inventory reports are expected to show a build tomorrow but still crude fell. However, refinery utilization is expected to show an increase as refiners prepare for the summer driving season.
Today, crude +$1.87, $83.38, gasoline +3.2 cents, $2.287, distillate +2.73 cents, $2.1853. Street -6 cents, $2.589.
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