West Texas Intermediate oil fell as investors sold September crude before expiration and purchased cheaper contracts for future delivery. Brent was little changed after falling yesterday to the lowest level in almost 14 months.
Can oil traders find happiness and fulfillment without the Energy Information Administration reports? Genscape is preparing to backstop the EIA Weekly Cushing Oil Storage Report, as well as the USDA corn crop yield forecast.
RBOB soared on rumors that a Canadian refiner was in the cash market buying product. Sure enough our refining nightmare continues. That makes three refineries that serve the New York Harbor market have units shut or slowed.