---
title: Crude Rises as Products Fade in Late Sell Off
description: Euro rose as the dollar fell, thus pushing money into Crude..products failed to follow the rally.RBOB slipped .0475 to $3.0995, HEAT lost .0192...
---

[Dennis K. Burke, Inc. Market Updates ](https://www.burkeoil.com/value-added-services/energy-market-updates)

# [Crude Rises as Products Fade in Late Sell Off](https://www.burkeoil.com/value-added-services/energy-market-updates/bid/60824/Crude-Rises-as-Products-Fade-in-Late-Sell-Off)

 Written by [Mark Pszeniczny](https://www.burkeoil.com/value-added-services/energy-market-updates/author/mark-pszeniczny) | Jul 22, 2011 1:03:00 AM

Crude once again danced above the $100 a barrel mark today as many speculated that the economy is showing signs of improving.  Furthermore a marathon meeting session on Greece of European Leaders ended with a consensus that they will throw more money into the debt strapped country.  The Euro rose on the news as the dollar fell, thus pushing money into Crude.  The products failed to follow the rally.  RBOB slipped .0475 to $3.0995 while HEAT lost .0192 to $3.0992.  All while Crude managed to gain .73 to close at $99.13, more than a full buck off its high of $100.16.  Holding down products appear to be the fact that demand is still soft, and retail gas stations are still in the high $3 range.  Additionally, our friends at the IEA stated that they are willing to release more product to the market to stave off any spike in futures.  HEAT remains in a congested selling pattern and looking back over the last few months, you have seen healthy corrections after these periods.  In laymen terms, nobody is willing to make a move either way until an event pushes us too.  This event will likely be in the form of how the US debt ceiling issue is resolved, meaning we probably have another week of sloppy back and forth days

| RBOB CLOSE |
| --- |
|                  CLOSE       CHANGE     AUG    30995       -.0475 SEP    30567      -.0379 OCT    29285     -.0277 NOV   28959       -.0235 DEC    28801       -.0215 JAN    28832      -.0200 HEAT CLOSE           CLOSE    CHANGE AUG  30992     -.0192 SEP   31129       -.0191 OCT    31273      -.0188 NOV   31437       -.0191 DEC   31600       -.0191 JAN   31753       -.0190 |

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