Despite being long awaited, China's currency moves seemed to confuse the market more than give it direction. Financial market moves have a greater impact on oil prices than oil industry fundamentals but global oil demand is still uncertain and even the moratorium on deep sea drilling in the Gulf of Mexico hasn't affected oil supplies. Crude rose modestly as did distillate while gasoline fell slightly.
Today, crude +64¢, $77.81, gasoline -1.04¢, $2.142, distillate +1.57¢, $2.145.
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