Equities rose again while the dollar dropped and so oil jumped 3% as trading settled today. There is still unease in the market as the New York business conditions index tumbled -7.7%, an even larger fall than the 3.9% drop in July. The market also positively considered the relatively mild 1.3% GDP fall in Japan in the 2Q. Economic uncertainty in the U.S. is holding back any real forecast for high demand the rest of the year and the resulting higher prices.
Today, WTI+$2.50,$87.88; Brent+$1.19,$109.70; RBOB+5.23¢,$2.8745; HO+4.04¢,$2.9441.
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