Comments on: Wall Street….what a day!!! http://www.pbrun.net/2008/09/15/wall-street-what-a-day/ Sun, 13 Jun 2010 02:39:32 -0700 http://wordpress.org/?v=2.9.1 hourly 1 By: Bill McEachern http://www.pbrun.net/2008/09/15/wall-street-what-a-day/comment-page-1/#comment-7 Bill McEachern Tue, 16 Sep 2008 01:43:00 +0000 http://pbrun.net/blog/?p=43#comment-7 Read this article:<br/><br/>Oil closes below $100 for first time in 6 months<br/>http://www.theglobeandmail.com/servlet/story/RTGAM.20080915.woilprices0915/BNStory/energy/home<br/><br/>Basically there were disruptions in refining capacity from the last 2 hurricanes. The gulf refines 25% of the gasoline in NA. If those refineries go offline you can end up with lots of crude oil and low prices for it, but a shortage of gasoline and high prices for that. It is one US/Canada market for gasoline and gas prices are influenced by gasoline commodity futures. So the 25% of the refining capacity went offline and will be down for days ... but there was no major damage so it should be back online soon and gas prices here should drop to $110/L by the end of the month.<br/><br/>P.S:<br/>I can't post to your blog via Firefox ... the kaputcha does not show up so you can't type it in. Read this article:

Oil closes below $100 for first time in 6 months
http://www.theglobeandmail.com/servlet/story/RTGAM.20080915.woilprices0915/BNStory/energy/home

Basically there were disruptions in refining capacity from the last 2 hurricanes. The gulf refines 25% of the gasoline in NA. If those refineries go offline you can end up with lots of crude oil and low prices for it, but a shortage of gasoline and high prices for that. It is one US/Canada market for gasoline and gas prices are influenced by gasoline commodity futures. So the 25% of the refining capacity went offline and will be down for days … but there was no major damage so it should be back online soon and gas prices here should drop to $110/L by the end of the month.

P.S:
I can’t post to your blog via Firefox … the kaputcha does not show up so you can’t type it in.

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