NYMEX crude fell 1.9% as bearish economic news hit the markets. Sales of durable goods fell in January and U.S. home sales are slack while prices continue to fall. It is noteworthy that traders have raised the price of crude and products very high this year on hopes of a strongly recovering economy and yet provable and steady good news about the economy has not been forthcoming.
Today, WTI-$2.01, $106.55; Brent-$2.09, $121.86; RBOB-8.82¢, $3.0401; HO-6.26¢, $3.2238.
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