The European sovereign debt crisis is making the euro fall and the dollar rise. The world economy still has not recovered and thus demand is down causing a record inventory build in the US. Crude is now down 5.6% from yesterday and 17.6% from the first of the month as prices ended at their lowest point since December 15. Products are now falling sharply in tandem with crude after trending up most of the past week.
For the week, crude -$4.34, $70.97, distillate -2.94 cents, $2.0545, gasoline -0.8 cents, $2.1204. Street unchanged at $2.569.
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