Are analysts clutching at straws when they base buying decisions on the fact that sales were not as bad as expected? Or was it the fall of the dollar and the news that China's government is trying to curb inflation and facing worker unrest in Southern China? Whatever the reason, crude and products all rose today. Everyone's attention now turns to the EIA inventory report that comes out tomorrow morning.
Today, WTI+$2.07,$99.37; Brent+$1.11,$120.21; RBOB+5.78¢,$3.0646; HO+2¢,$3.1258.
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