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Monday, January 24, 2011

Steady as she goes...

The six day is in for this week, and there's not much change reflected in the numbers.
At least, not yet...
  • Heating and stove oils show an increase of 1.18 cents a litre.
  • Diesel shows an added half penny, while...
  • Gasoline shows a half penny down.
What I am watching for this week is a second week of inventory building that, paired with the news out of Saudi Arabia just today, will amount to a drop in prices in the coming weeks.

Saudi Arabia today announced the need for keeping prices below the $100 US a barrel mark. That could signify that the Saudis are ready to ramp up production to keep prices down.

We can all live in hope!

I'll be back again tomorrow night with the final numbers on what to expect this Thursday.

Regards,

George

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