WTI and Brent were both headed for significant falls when news about Saudi police shooting rubber bullets at protesters was broadcast. Prices were headed below $100 not today but in the near future but now no one is sure what level of violence will occur in Saudi Arabia, the world's largest exporter of crude. The other news affecting the economy and crude prices were bearish. Unemployment claims went up last week and Greece's credit rating was downgraded. Analysts are worried that such a high price increase will cause the foreseen economic uptick to falter.
Today, WTI $1.73, $102.65; Brent -69¢, $115.25; gasoline -0.23¢, $3.0185; distillate -2.13¢, $3.0444.
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