Cameron Hanover – Daily Energy Hedger – August 25, 2010

The decline continued on Tuesday, with crude oil prices leading the complex lower. Gasoline prices were weak, and they continued their breakdown below 190.00, printing their lowest levels since July of 2009. If gasoline prices are an accurate reflection of consumer demand, then the US economy is in very poor shape.

Crude oil prices also ended the day at historically low levels, in their case printing the lowest levels in two months. Once again, weaker equities quotes played a role in Tuesday’s decline in oil markets. The DJIA ended the day down 133.96 to 10,040.45. The euro was lower to start the day, but rallied before it, too, finished the day in negative territory against the US dollar.