All news now is bad news. There seems to have been a hangover from yesterday's jobless report. Today retail sales did not meet expectations by a very slim margin but most analysts are wary of the later revisions to the initial announcements that somehow never quite meet neither forecast nor expectations and are inevitably adjusted downward. The fundamentals remain as they have all year: low demand, abundant supply, and no light at the end of the tunnel yet.
For the week, product dropped even more than crude: crude -41¢, $75.33, gasoline -17.52¢, $1.9381, distillate -15.14¢, $1.9948.
No comments:
Post a Comment