Monday, August 23, 2010

August 23, 2010

Crude experienced the fourth straight day of decline and the lowest settlement price in almost seven weeks. There is no good economic news to reverse the falling trend. Equities are falling and the dollar is rising over the euro. It is also expected that fundamental news will be bearish and that inventory reports tomorrow and Wednesday will show builds.

Today, crude -36¢, $73.09, gasoline -4.07¢, $1.8818, distillate -1.51¢, $1.9564.

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