New York (Platts)--11Jan2008

February crude futures on NYMEX opened 16 cents lower at $93.55/barrel as
the dollar continued to rebound. The dollar index on ICE traded barely below
76 points Friday at the NYMEX open after Federal Reserve Bank Chairman Ben
Bernanke's Thursday comments that the US central bank would continue to cut
rates to shore up a slowing economy.

"Although the dollar has fluctuated in a relatively narrow range
overnight, this pattern could change quickly this morning with the release of
the US trade data," Jim Ritterbusch, an independent energy consultant, said in
a report.

The US trade deficit widened $5.3 billion to $63.1 billion in November as
US crude import costs soared to a record-setting $79.65/b, according to data
released Friday by the US Department of Commerce.

February heating oil on NYMEX opened 57 points higher at $2.5650/gal and
RBOB was at $2.2440/gal for a gain of 1.61 cents.

"The list of these supportive elements is becoming increasingly
concentrated within crude oil because product balances continue to loosen via
a surprisingly strong rebound in US refinery activity from 87.8% to 91.3%
during the past three weeks according to the EIA," Ritterbusch added.

--Funda Saygin, funda_saygin@platts.com