GAS PRICE STATUS:
Currently, as of 1:30pm EST, I am calling for NO RISE TOMORROW.
However, this *may* change later today or tonight, in which case I
will dispatch another e-mail notifying you of this.
Comments on prices: Today we got a good and bad market report. First
off, CRUDE OIL inventories had a *large* gain (the API reported 8.8
million barrel gain!) which is causing CRUDE prices to slide a lot.
However, gasoline inventories fell a whopping 4 million barrels.
(Thats the most I’ve ever seen) However, wholesale gas prices are
falling (it doesn’t make much sense). Some are calling this a market
correction and thats why prices are falling across the board. I’ll
keep my eye on market indicators tonight, and, if necessary, send
another e-mail ONLY if prices seem to be headed up.
Current Market Prices:
Nymex Gasoline $1.551/gal (down $.0239, 1.5%)
WTI Cushing (OIL) $49.4/bar (down $4.88, 9%)
Nymex Crude (OIL) $53.95bar (down $2.08, 4%)