The dollar fell, the stock market rose and the strike at a major French port for oil imports went into its fourth week. These factors in combination with the API's report of an increase in oil consumption in September have the analysts thinking about a rising market for oil. There are major supply disruptions in France and this probably poses more of a psychological problem rather than a physical problem for the crude and product markets. Obviously the European supply system may be undergoing problems. If there is a bottleneck for bringing American products into France. There will be repercussions in the U.S.
Today, crude +$1.79, $83.09; gasoline +4.7¢, $2.1536; distillate +4.34¢, $2.2772.
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