Both crudes fell moderately today and products followed. The Greek sovereign debt problem continues to hang Damocles-like over the euro-zone and that caused the dollar to gain on the euro and thus commodities like crude fell as they followed the inverse dance of currency vs. commodity. There is also an uneasy feeling about Chinese oil demand as Chinese oil imports fell in June. Together with the worries about the U.S. economy these factors spelled a fall for the oil sector.
Today, WTI-$1.05,$95.15; Brent-$2.23,$116.10; RBOB-2.21¢,$3.0705; HO-0.89¢,$3.0875.
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