The passage of the bill extending the Bush tax rates helped crude overcome the dollar's rise as it also climbed 32¢. Some traders were taking chances that the onset of colder weather may move crude and distillate prices higher but distillate fell despite crude's rise. Looking at the movements of the past week, price was slightly higher for crude and both products. The price movements this month seem to indicate that traders are wary of $90 but also believe that prices should not go down below $87.
For the week, crude +23¢, $88.02; gasoline +0.85¢, $2.3178; distillate +1.92¢, $2.4737.
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