A bit of profit taking, and some new and much stricter rules on fuel efficiency in the United States from President Obama’s administration, as reported by Reuters:
- RTRS-U.S. RAISES STANDARDS FOR AUTO FUEL EFFICIENCY FOR MODEL YEAR
- RTRS-FIRST EVER INCREASE INCREASE FOR PASSENGER CARS REQUIRES 30.2 MILES A GALLON – TRANSPORTATION DEPT
- RTRS-SPORT UTILITIES, PICKUP TRUCKS, VANS REQUIRED TO AVERAGE 24.1 MILES A GALLON – TRANSPORTATION DEPT
- RTRS-NEW STANDARD EXPECTED TO SAVE NEARLY 900 MLN GALLONS OF FUEL, COST AUTO INDUSTRY $1.4 BLN – GOVT
Either way, gasoline and crude firmly lower against recent highs on Friday:
