Crude prices ended 10% higher than the year's final settlement price of $89.82 on 12/30/2010. There were conflicting reports about the American economy as every Friday would see the publication of the new unemployment numbers and revisions would follow sometime the following week that more accurately reflected the true state of joblessness.
In the world's second economy, the Chinese also played a similar game of providing statistics that would always need revisions or extra spin. There's always an examination of the state of the Chinese economy, especially the manufacturing sector but world demand creates manufacturing output and thus the world is constantly eyeing how Europe solves the sovereign debt problem, if the Europeans ever solve it.
The revolts in Tunisia, Libya, Egypt, and Yemen caused regime changes and these led to huge premium increases between NYMEX and Brent throughout the year but now there does not seem to be as big a need for the premium as European supply seems to be less problematic with the end of Ghadaffi's rule in Libya.
For the year, WTI+$9.01, $98.83; Brent+$14.26, $107.35; RBOB+29.51¢, $2.6863; HO+45.05¢, $2.935.
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