Wednesday, September 15, 2010

September 15, 2010

Inventory for crude and products fell close to forecast but crude and gasoline prices fell anyway as the Enbridge pipeline is being repaired and is now expected to be back in operation within two or three days. Distillate prices rose but we should begin to see distillate prices rise as we approach the colder winter months. In the financial markets the Japanese government is working to stop the yen from gaining strength versus the dollar and the rise of the dollar also provided traders with another reason to bring crude's price down.

Today, crude -64¢, $76.14, gasoline -0.5¢, $1.9627, distillate +0.55¢, $2.1331.

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