The Fed has started inflating the economy, thus causing the dollar to fall. This has led to crude breaking the $86 barrier today for the first time since April. The normal movement in the markets is for crude to do the opposite of the dollar and be in tandem with equities. It did that today. The big news of the inflating dollar scheme by the Fed overshadowed the increase in unemployment announced today. The draw on product inventories also seems to help the price move up but the draw could also be related to decreased refinery utilization.
Today, crude +$1.83, $86.49; gasoline +3.93¢, $2.1758; distillate +4.4¢, $2.373.
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