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Gas and Oil

Gas and Oil

Posted: 08 Feb 2010 03:59 PM PST

Not much change this week

As Obama said about "change", I can say the opposite this time around at least!

There's not much this week, at least according to the numbers so far...

Here's what I have with six days out of seven reporting:

  • Heating and stove oils show a drop of just 39/100ths.
  • Diesel shows a very modest 7/10ths of a cent, and...
  • Gasoline shows "down" by 3/10ths of a cent.

Some market observations:

  • The Canadian dollar lost a little ground against the US Greenback this past week, losing close on 1.5 cents. The US dollar gained a little strength, particularly against the Euro, in spite of the disappointing economic news out of the US.
  • A build in crude inventories this week lead to a sell-off as speculators saw this as another sign that all is not rosy in the economy.

That's it for now. I'll have the final numbers tomorrow night, sometime after 11 p.m.

Regards,

George

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