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Tuesday, November 05, 2013

Numbers for Thursday, November 07, 2013

I won't have the last day of data until tomorrow afternoon, but here's what I have for six days out of seven needed. Not much change overall, if you keep in mind that I go on a margin of error of 3/10ths of a cent:

Heating and stove oils show an added 35/100ths of a cent.
Diesel shows a drop of 3/10ths of a cent, and..
Gasoline is showing a drop of just a half penny.

The Canuck Buck has lost close to two cents over the last week and a half against the US Greenback. Any time you see that, any drop in prices pretty much flattens out and is not as pronounced. While oil is in retreat, I still anticipate that prices will endure a slow drop. Keeping my fingers crossed on that one.

Inventories of crude oil continue and there's a lot of downwards pressure on West Texas Intermediate that could still play in consumers favour over the immediate future. Brent prices will also face pressure from increasing exports of liquefied natural gas that is entering the markets. That takes away part of the present Asian market for Brent products. The slight possibility of Iran also entering the market, if sanctions are lifted, also promises to impact Brent over the first half of 2014.

I'll be back with further updated numbers tomorrow sometime, but there shouldn't be too much change from what I have here.

George Murphy
Twitter: @GeorgeMurphyMHA

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