Greece Debt Crisis pushes Nymex Lower

For the fourth straight day values across the most of the complex have fallen. This mornings early action was surrounded by ongoing debt concerns in Greece, who announced they needed an immediate $17 billion....yes, billion... dollar infusion in order to meet creditors. As a result the Euro plummeted and the dollar soared, which pulled money out of commodities. Many feel that downside may be limited as ongoing concerns of supply disruptions continue and we are knocking on hurricane season. What is interesting to note about todays session was that Crude actually finished higher by.25 to close at $93.26. Still Crude values seem low for products being so high. HEAT fell .0573 to 2.9329 and RBOB lost .0345 to 2.9115. Or, the products are overpriced for Crude values. I tend to think the latter scenario is more fitting. As you may recall it wasn't to long ago that HO was at the 2.80 level. With todays finish, we continue to be on the back nine of the recent range and would not put it out of the realm of possibility to touch 2.80 in the near future.
Daily Heat Chart

RBOB CLOSE
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CLOSE CHANGE
JUL 29115 -.0345
AUG 28526 -.0368
SEP 28324 -.0375
OCT 27165 -.0357
NOV 26953 -.0351
DEC 26848 -.0341
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HEAT CLOSE
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CLOSE CHANGE
JUL 29320 -.0513
AUG 29469 -.0509
SEP 29655 -.0502
OCT 29843 -.0495
NOV 30031 -.0490
DEC 30202 -.0481
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