The fall is small but for the third consecutive day, crude fell. With inventory increasing for three months and demand therefore not increasing, traders and analysts are reevaluating their market positions. Refiners have upped their production in anticipation of greater demand but gasoline futures prices although increasing are not rising at the level of crude. There is also concern that higher prices will dampen economic recovery and thus petroleum demand. The dollar was also stronger today as the euro fell due to the continuing financial meltdown in Greece.
For the week, crude -$0.13, to $84.77, gasoline -3.84 cents, to $2.2856, distillate -1.45 cents to $2.2205.
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