The panic surrounding gasoline is pushing crude higher. The specification issues are starting to permeate the market. The distribution of ethanol is going to be a big problem.

The drop in crude was a surprise and was a little supportive to prices, but the market was completely overwhelmed by the build in products. It's unusual at this time of year to see distillate fuels rise.

I think that what we may be seeing is the realization that if crude is not the problem, then we can't justify prices at $60 a barrel.

This is the second week that imports dropped, which makes sense because we are choking on crude. We need another week of drops before I get too worried.

There's a feeling the stock market is overbought and it would be dangerous to keep pushing it higher.

People will still watch gasoline because of maintenance and subsequent specification changes.