Crude closed at its highest level since May 11 as the dollar fell and the stock market rose. Expectations of an improved world economy are high since China and Japan have reported higher than expected economic activity while fears of an economic melt down in Europe have lessened. However, there is still a great deal of caution about the mid-term as fears that too great an increase might have a deleterious effect on the economy and dampen demand.
Today, crude +$1.32, $75.60, gasoline -3.71¢, $2.0731, distillate -2.68¢, $2.0353.
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