The respite from falling prices lasted a day. High than expected inventory reports led to yesterday's increase but today worries about increased unemployment and lower than expected manufacturing results led to a small decrease in crude and gasoline. Something is going on in Europe as Brent rose by nearly a dollar and passed the NYMEX price. The dollar rose and helped to move investors out of commodities and into dollar accounts. There is also a nagging worry that the economy will not improve enough to warrant current high pricing.
Today, crude -0.26 cents, $85.59, gasoline -0.68 cents, $2.3258, distillate +0.80 cents to $2.2499. Street still steady at $2.649.
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