A weakening dollar and a revived stock market are coinciding in economic calculations with a slight fall in crude. The Trans-Alaska Pipeline has re-started and the IEA is forecasting greater worldwide demand. Unlike Brent, the European crude benchmark, WTI and other crude held in supply at Cushing, OK, have maintain very high inventory levels and that has held back NYMEX pricing. The true market drivers this year have yet to reveal themselves but we should find out soon.
Today, crude -0.20¢, $91.34; gasoline -1.46¢, $@.48; distillate +0.11¢, $2.6451.
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