The European debt crisis is worsening and U.S. unemployment seems to be stuck at 9% and this points to falling demand and the markets reacted today and crude fell 2.6% while gasoline dropped 3.1%. Crude fell even though the market dropped as overall global economic conditions seem to be deteriorating. Crude also tumbled despite OPEC's pronouncement that they were cutting back on production as Libya's capabilities increased.
Today, WTI -$2.26, $85.70; Brent -$2.57, $109.13; RBOB -8.76¢, $2.6965; HO -6.42¢, $2.9447.
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