Crude fell after three straight days of increases while gasoline dropped for the second consecutive day and distillate decreased but its movements have been erratic. The Trans-Alaska Pipeline has resumed moving product allaying supply shortage fears for the West Coast. The early indications about the jobless report is a higher than expected number of new claims and this will likely be seen as a bearish indicator for the economy. The dollar was weaker today but other factors were seen as more important for today's trading. Something is going on in Europe as Brent is more than $6 higher than NYMEX.
Today, crude -53¢, $91.28; gasoline -1.75¢, $2.4451; distillate -0.99¢, $2.6079.
No comments:
Post a Comment