It's the Wednesday story. The inventory report came out and the traders wanted to buy but further analysis told them that selling was the better alternative. Crude inventories had a small draw, gasoline inventories were flat, and distillate saw a medium build. This really means that demands remains weak in what is supposed to be the high demand period. Additionally, the dollar weakened but demand weakness is heavy on the mind.
Today, crude -32¢, $75.43, gasoline +0.8¢, $1.9604, distillate -0.08¢, $2.024.
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