Crude moved sideways while product prices jumped as positive news on improved manufacturing results came in from the U.S., China and Europe. However, the dollar gained on the euro and the market remains in contango with the premium between front month and the farther out month expanding. No one yet knows what the effect of the BP oil spill in the Gulf will be.
Today, crude +$0.07, $86.18, gasoline +3.62 cents, $2.4309, distillate +5.85 cents, $2.3455, street $2.759.
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