New York (Platts)--22Jun2007

August crude futures on the New York Mercantile Exchange opened 30 cents
higher at $68.95/barrel Friday, reversing overnight losses as gasoline firmed
on the open. There was no fresh news of refinery problems in the US, but
ongoing tightness in the gasoline market remains a supportive factor.

     "...[B]ullish crude factors appear limited other than the likelihood that
demand from refineries will be stepped up appreciably during the next few
weeks and the possibility that the gasoline market could still stage one more
price pop to new highs," energy consultant Jim Ritterbusch said in a report.
"[W]e are continuing to monitor Cushing supply levels that have drawn about
2.5 million barrels (9%) from the record peak of 28 million barrels
established in mid-April , largely as a result of revived operations at the
Valero McKee refinery."

     July RBOB opened 63 points higher at $2.2530/gal before rallying to an
intra-day high of $2.2769/gal. July heating oil opened 2 points lower at
$2.0245/gal. 

		--Linda Rafield, linda_rafield@platts.com