The signs are hard to miss. Refinery utilization is declining, down 0.7 from the previous week, gasoline consumption declined in August and is down for the first 8 months of the year when compared to same period last year, and consumer confidence is down in September by 2.3. All these are part of the story that led to a hefty decrease in crude and product prices for the week. The Enbridge pipiline has also begun operations again removing any reason to move prices up.
This week,crude -$2.85, $73.61; gasoline -6.01¢,$1.9188; distillate -0.54¢, $2.0991.
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