The market is in a strange mood and chose to believe in a modest increase in jobs while ignoring the imploding Greek sovereign debt deal and falling demand as evidenced by builds in crude and gasoline inventories. The markets also failed to recognize the Fed announcement that GDP forecasts for 2012 would be revised down. In this sea of of bearish news the market has chosen the one ray of bullish light, however slightly it moved in that direction.
Today, WTI+32¢, $92.51; Brent-20¢, $109.34; RBOB+0.28¢, $2.6272; HO-3.72¢, $3.0007.
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