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Summer driving season's a bust with $ 3.11 gas in CA. Time to knock a few holes in some refinery pipes....tamp down supply. The retail station guys are getting their asses kicked, per a friend in the biz.
retail is no fun... vouch #2...
see VLO stock for refining details...
There is a firm floor under oil at $70. Demand increases are coming from outside the oecd as the usa is in decline:
http://www.eia.doe.gov/steo/
I don't agree with his chart showing an ascending channel. The channel is flat (for now).
EURO buying support mentioned since June continues and further upside is expected.
http://stockmarket618.wordpress.com