There's a lot of news affecting the markets and the markets were somewhat conflicted but slightly to moderately trending upwards. Crude inventories were down but gasoline and distillate inventories were up. Refinery utilization is up to 90.3 but demand is down. Crack spreads are now approaching $35 when hypotheticals say they should be at $32 and this points to growing demand but not in the U.S.
China seems to be slowing down as its manufacturing is significantly below the average of the last 12 months. As usual, there seems to be progress but not an agreement about what to do about Greece. AS far as the U.S. debt ceiling and deficit reduction talks go, it all depends on the news source.
Today, WTI+64¢,$98.14; Brent+$1.09,$118.15; RBOB+3.21¢,$3.147; HO+2.04¢,$3.1184.
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