The dollar is still driving the crude oil futures price as it gained 0.5% on the day while crude and both products fell. Every session in October has ended over $80 while all of the September closings were in the $70s as were most of the August closings.
Goldman Sachs is starting its game again about crude prices going above $100 and you would think that Eric Holder would bring them in for consultation or at least have Surgeon General Regina Benjamin take their temperature. After all, demand dropped 0.7% for the week ended 10/8 and inventories continue at near historically high levels. Until the economy improves appreciably and causing demand to significantly increase, supply will be abundant and prices should be lower than they are today.
For the week, crude -$1.36, $81.30; gasoline -4.31¢, $2.1066; distillate -4.88¢, $2.2338.
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