Wednesday, July 02, 2008

Quick Overview

  • U.S. factory orders rose 0.6% in May.

  • Producer prices in the Euro area rose 1.2% in May and up 7.1% YoY.

  • The U.S. DOE said:
    Supplies of crude oil fell 2.0 million barrels to 299.8 million barrels.
    Supplies of gasoline rose 2.1 million barrels
    Supplies of heating oil supplies rose 1.2 million barrels.
    Refinery use improved from 88.6% to 89.2%.
    Gasoline demand fell 1.7% YoY
    Distillate demand fell 0.5% YoY.

  • Rising fuel costs prompt Maersk to cut 2,000 FEU from its Asia-Europe capacity in early July.

  • Dave Tolleris of WXRisk.com said temperatures in Des Moines, Iowa, will top 90 degrees Fahrenheit (32 degrees Celsius) for at least 12 days from July 6 to July 20 with little rain.

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