The markets have been fretting over Greece for more than a year and no resolution is in sight. This affected U.S. and European markets differently as West Texas Intermediate fell 1% today while Brent went up 1.65% increasing the Brent premium to $19.13 when it was under $10 just a month ago. U.S. inventories continue to build while there is a supply shortage in Europe. Another interesting development is the severe cold in Europe has increased the demand for distillate and NYMEX distillate zoomed 5.63¢ today.

Today, WTI-93¢, $96.91; Brent+$1.65, $116.04; RBOB+1.35¢, $2.9279; HO+5.63¢, $3.1707.