The fourth day of crude above $90 while gasoline and diesel have settled sideways. December retail sales were reminiscent of better economic times and gasoline demand has been improving lately. Some analysts are talking about inventory draws but by now everyone has been reminded of LIFO and year-end tax planning. Economic news is a mixed bag: prices for homes for sale are down, equities are up, fuel demand is picking up, but no one is sure about Chinese fuel demand and its attempt to dampen inflation.
Today, crude +41¢, $91.45; gasoline -1.38¢, $2.4081; distillate +0.0094, $2.526.
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