Crude climbs again with gasoline and diesel following
Crude Oil The NYMEX? benchmark, West Texas Intermediate (WTI) for July delivery fell 64 cents to settle at $72.04 on Friday. This is the first time oil has closed out the week above $70.00 since last October and is more than double the price crude could be purchased for in March. With overall demand still down and inventories busting at the seams, explanations for the continuing rise range from the falling $US Dollar to the expressed belief the US economy is truly turning around. None of the reasons have anything to do with supply and demand allowing speculators to set the price refiners pay for crude and what the consumer will pay at the pump.