Wednesday, November 24, 2010

November 24, 2010

The fall in weekly jobless claims trumped the decline in crude stocks. Gasoline also showed a build while distillate showed a decline; as winter approaches distillate will continue to show greater demand. Equities and the dollar also rose. The dollar's rise normally would see crude going in the opposite direction but the good news on unemployment was foremost in traders' minds. Both gasoline and distillate showed major gains for the day.

Today, crude +$2.64, $83.89; gasosline 7.9¢, $2.214; distillate +7.12¢, $2.3214.

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