Fears of hurricane force winds blowing through the oil production areas of the Gulf of Mexico abated over the weekend and that led to a modest price decrease for crude, gasoline and distillate. The market discounted the good news about the increase in the savings rate and instead focused on the rejection of the stimulus type spending that The Obama administration was urging on the other G20 participants. There was little notice of the increase in consumer spending and personal income nor was the dollar's rise much noticed.
Today, crude -61¢, $78.27, gasoline -2.999¢, $2.0945, distillate -1.78¢, $2.0945.
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