The gasoline futures price roller coaster continues. Gasoline dropped 4.6% or 14¢ today as fears of refinery shutdowns due to flooding along the refinery corridor were allayed by the opening of a floodway in Lousiana. The gasoline crack spread has also fallen from $40 last week to around $26 today. The arrest of IMF managing director Strauss-Kahn leads to speculation that there may greater difficulties in providing Greece with additional aid and thus there will be greater pressure on the euro and raising the dollar's value.
Today, WTI -$2.30, $97.35; Brent -$2.96, $110.87; RBOB -14.01¢, $2.9343; HO -6.79¢, $2.8743.
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