Monday, October 27, 2003

Hey, I think I learned something last week. Last year during the third week on October, at the end of the week, prices seem to reset down, probably signaling the end of the Chicago Summer Premium. This year, they did the same. In 2002, right around Halloween, there started to be real problems with refineries in Chicago, and then we had a price spike. I can’t predict if the same will occur this year. Not including the CSP, the 0-cent margin price is $1.30 and the 20-cent margin price is $1.51. So, we have the potential to drift down into the $1.30s this week. But no official prediction right now, because I’m not convinced that I’ve got this right. Good no call. Prices rose to $1.59 on Thursday, a suprising price hike similar to what happened in 2002 at the end of October.

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