Crude fell in a sideways motion but it fell nonetheless. Both products increased slightly. The dollar weakened but the continuing worry about inventory and abundant supply made for the slight drop in the crude futures price. It is not just the supply glut that worries analysts but the size of crude and product inventories when compared with supply availability of the past 20 years. Equities may have risen but there is little faith in the economic revival and in a return of sustained robust demand.
Today, crude -35¢, $76.16; gasoline +1.5¢, $1.963; distillate +0.99¢, $2.1328.
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