The great uncertainty about the direction of the world economy and the availability of supply due to the Federal Government reaction to the Gulf oil spill made the market move sideways today. The European sovereign debt problem, uncertainty about China's economic direction and the US's own economic problems are weighing heavily despite increasing demand and falling inventories. Some idea of the market's direction will likely be evident this week but most of the factors affecting prices have to do with factors outside of the industry.
Today, crude -$0.36, $71.41,gasoline -0.0046¢, $1.996, distillate + 0.78¢, $1.9675.
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