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Tuesday, April 12, 2011

Numbers are in
But can they be trusted?

Hi to all...
After last weeks "shenanigans", I don't know what's going to happen with the numbers this week. I'll be blunt.
But, here's what I do have.
I haven't changed my sources or the way I have done things.
Let's see if they did...and see if my numbers come back on track. I know the "Stove" number is solid.
  • Heating and stove oils show an added 2.88 cents up. Keep in mind again that the stove oil number is a rough guide on where heating oil numbers could go.The number is the same as the stove number in the non-winter season. During winter, they throw in kerosene into the stove oil number and that acts as an antifreeze agent.
  • Diesel shows an added 2.0 cents a litre up, and...
  • Gasoline shows an added 8/10ths of a cent.
There is volatility in the numbers.
The first five days of this session showed oil and related commodities up and still climbing from last week, all on steady demand and a draw-down on inventories.
And then the IMF and IEA weighed into the fray on Monday.
The last two days with the oil sell-off, numbers have been all over the place. It's a sign that markets are unsure and that there's some doubt over continuing demand for oil and it's related, refined product. That fact showed itself with the International Energy Agency adjusting its world demand figures for oil downwards. The reasons for that are quite apparent: that world economic recovery could be hindered by high energy prices.
That started the retreat and oil's strategic withdrawal.
That's it for me for this week, but keep an eye to your email for a special invite from this poster for later this week!

Regards,

George Murphy
Group researcher/Member
Consumer Group for Fair Gas Prices

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