New York (Platts)--15Jan2008

February crude futures on NYMEX opened $1.20/barrel lower at $93.00/b
Tuesday, following weak US retail sales and an equally unimpressive Empire
State Manufacturing survey.

US retail sales for December fell 0.4%, according to data from the Census
Bureau while the Empire State Manufacturing survey showed conditions little
improved in January, according to the New York Federal Reserve Bank. The new
orders index, falling for the third consecutive month, fell 13 points to zero.

The shipments index weakened while the unfilled orders edged up over
zero.

Employment indexes were just above zero with futures indexes suggesting a
muted outlook. "Many tumbled to near-record lows," the New York Fed reported.

In contrast to weak retail sales and the manufacturing survey, the PPI
for December was in line with market expectations, down 0.1% for the headline
number, but up 0.2% for the core--excluding food and energy.

Petroleum prices fell after the release of the data despite the continued
freefall in the US Dollar Index on ICE. The index was making new all-time lows
shortly after the start of open outcry. The US Dollar Index on ICE was 35.5
points lower at 75.258.

February RBOB opened 2.28 cents lower at $2.35/gallon and February
heating oil opened 62 points lower at $2.5830/gal.

--Linda Rafield, linda_rafield@platts.com