Some analysts called today's price movements "little changed," others focused on the fall at the end of the day that not only erased earlier gains but also went below last Friday's close, and still others talked about the 6th straight day of falling prices. All are now focused on whether continuing talk of unmet economic growth expectations will lead to even further decreases in price that could lead to a price fall to the mid-$60s. The dollar also fell and that normally leads to crude price increases but the bad economic news outweighed the normal equation balancing between crude and the dollar. In the back of the minds of all is that supply remains at very high historical levels and holding lots of contracts for crude supply may invite major losses.
Today, crude -15¢, $71.97, gasoline -0.66¢, $1.9713, distillate +0.15¢, $1,9172.
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