if temps in the northeast were normal area Oil would be at 65+ now. These warmer temps are knocking oil down hard. For some reason though im not seeing it at the pump. Paid $2.61 the other day, whats up with that??????
Front month crude....pivot point is $55.60 (a bit away from current levels)....but a daily close below $56 opens up the door for a move to $36.....minor resistance at $58.00 and $60 looks like a top now......OPEC will be very vocal in thei $56 to $58 range....summary: $55.70 approach should see support....but the mother of all stops of funds long oil may be lurking below $55.60
crude currently trading $55.77...$55.81 is closing low going back over a year for front month contract...floor trading closes in 5 minutes
Ahhhhh, yes! I hear that they are charging between $2.77 and $2.83 for Premium unleaded out there. But then again, CALIFORNIA uses its own "reforumlated" gasoline and is not fungible to other markets. Their premium is also only 91 octane. Bummer.
i filled up this morning exxon mobil station, self service, premium 3.05 a gallon yip (west los angeles)