The euro rebounded vs. the dollar despite the expected Greek sovereign debt default. French banks are especially vulnerable for the amount of loans they hold. Crude went up slightly and there seems to be no boost from President Obama's jobs speech last week. Traders believe that crude will not increase appreciably the rest of the year and are shorting the oil market. Traders do seem bullish on gasoline but that is where demand deterioration shows the most.
Today, WTI+95¢, $88.19; Brent-54¢, $112.23: RBOB-3.28¢, $2.7382; HO-3.83¢, $2.9475.
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