WTI fell for the second straight day yesterday despite the initial reports of 103,000 jobs created and the decline of the jobless rate to 9.4%. Inventories at the Cushing storage facilites have been increasing and the dollar rose yesterday against the euro. There are reports that a syncrude facility in Canada had a fire and has to close down and that has narrowed the differential between front month February and further out month March.
For the week, crude -$1.79, $88.03; gasoline +2.19¢, $2.4131; distillate +0.18¢, $2.4863.
No comments:
Post a Comment