The markets are clearly uneasy about the Fed's inflationary policies, the Middle East and North African violence, the falling dollar, and the high prices of commodities especially oil and its products. Today the CEO of the Saudi national oil company publicly expressed concern about high prices and its possible effects on the gobal economy. Even refinery problems reported today could not bring WTI into positive territory. Brent did move up earlier as did gasoline and distillate.
Today, WTI -7¢, $112.21; Brent +48¢, $124.14; RBOB +3.38¢, $3.3567; HO +2.92¢, $3.2112.
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